Mordechai (Motti) Zisser-controlled Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) subsidiary Plaza Centers NV (LSE:PLAZWSE:WLZ) will build six shopping centers in India at an investment of $615 million. The company made the statement to the Indian press at the unveiling of a scale model of its first mall, Koregaon Park Plaza in Pune.
The six shopping and entertainment centers will be in Chennai, Bangalore, Kochi, and a second mall in Pune.
Plaza Centers also announced a deal with PVR Cinemas for a multiplex at the Koregaon Park Plaza. The 35,000-square meter shopping center is due to open in 2011. It is designed to maximize light and air, and will have three underground parking levels for 1,100 cars and 950 motorcycles.
Plaza Centers president and CEO Ran Shtarkman said, |We are proud of our first venture launch in Pune and we plan to follow it up with six more such state-of-the-art malls in the country in the near future."
Plaza Centers' share price fell 0.8% in London today to ₤1.19, giving a market cap of ₤330 million.
Published by Globes [online], Israel business news - www.globes-online.com - on September 10, 2009
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