Plaza Centers NV is heading for Timisoara
Below is a MRR and PLR article in category Business -> subcategory Entrepreneurs.
Plaza Centers NV Set to Transform Timisoara with Major Mall Project
Summary
Plaza Centers NV has announced plans to launch the largest mall project in Timisoara's city center. Construction is slated to begin in late 2007, with a grand opening expected by mid-2009. The mall will span 32,000 square meters, designed to complement the city's aesthetics and lifestyle.
Article
Plaza Centers NV, a company listed on the London Stock Exchange, is a subsidiary of Elbit Medical Imaging Ltd. This firm is renowned for developing Western-style shopping and entertainment centers in emerging markets. The new project in Timisoara aims to establish the city's leading multifunctional complex, featuring shopping, entertainment, residential, and office spaces.
Following its strategic ambitions in Central and Eastern Europe, Plaza Centers will construct a state-of-the-art commercial hub. This center will include a hypermarket, 12 cinema screens, and a diverse food court offering everything from gourmet dining to fast food and themed restaurants featuring Italian and Romanian cuisine. The development promises a full range of fashion outlets, including shoes, clothing, jewelry, cosmetics, and sportswear.
Mr. Luc Ronsmans, Country Director of Plaza Centers in Romania, commented, "We aim to introduce renowned international brands already popular in our European shopping centers to Timisoara. We are also focusing on students, offering them internet cafés, bookstores, and clubs."
Continuing its tradition, Plaza Centers NV will transform the mall into a family-friendly gathering place with attractions for all ages, including a playground and Fantasy Park. The residential component will offer around 600 apartments, ranging from one to four rooms, all with Class A finishes.
The office spaces will be housed in a modern business park, providing Timisoara with premier Class A facilities for both established businesses and new entrepreneurs.
Plaza Centers has an extensive track record in Central and Eastern Europe, having developed, leased, and sold numerous shopping and entertainment centers across seven countries. It was a pioneer in introducing Western-style malls to the region, beginning with Duna Plaza in Budapest, Hungary, in 1996, followed by over 20 centers in Hungary, Poland, the Czech Republic, Latvia, Greece, and Romania.
"Casa Radio" in Romania, acquired in 2006, marks one of the group's significant recent ventures. By solidifying its position in the Romanian real estate market, Plaza Centers continues to demonstrate its influence both internationally and locally.
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