Plaza Centers NV (LON:PLAZ)

Real Estate

Founded in 1996, Plaza Centers NV is a Netherland-based property developer and investor with focus on operations in Eastern and Central Europe on western-style shopping and entertainment centers. The company has a strong track record of successfully building, leasing and selling shopping and entertainment centers. It is currently engaged on debt repayment following sale of assets, efficiency measures and cost reduction. The company has extended its operational area beyond Eastern and Central Europe to India, Romania, Czech Republic, Greece, Poland, Latvia, Bulgaria and Latvia. With its joint venture in 2010 the company identified a window of opportunity for investment in the US as a result of the dislocation of the property market within real estate sector. In 2007, the company’s shares got listed on the Main Board of the London Stock Exchange and its shares are also traded in the Warsaw Stock Exchange and the Tel Aviv stock Exchange.     

The company no longer aims to develop commercial centers, but to solve existing bureaucratic or legal issues and dispose its real estate assets. Following the approval of debt restructuring plan in 2014, its objective changed to reduce corporate debt by early payments, selling assets and continue cost reduction and efficiency measure where possible from establishing and selling shopping, entertainment centers and other mixed-used projects in Eastern and central Europe, US and India. The company’s special projects include Arena Plaza and Casa Radio. Arena Plaza is one of the most prestigious shopping and entertainment centers in Central and Eastern Europe with total size of 66,000 sqm, acquired by the company in 2005. Its main tenants include Zara, Peek & Cloppenburg, Electro World, Tesco, Hervis, C&A, Hennes & Mauritz and other.  Casa Radio includes GLA shopping mall, hotels, offices and in-door leisure center with conference centers, underground parking spaces and public Authority Building in total 467,000 sqm GLA.

 

Contact Information

company address Pietersbergweg 283, Amsterdam, 1105 BM, Netherlands

company phone+31.20.3449560

company websitehttp://www.plazacenters.com

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