AFI Development plc (LSE:AFID) today announced that it is opening the AFIMall City in Moscow, its flagship project next week. AFI Development is the Russian arm of Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) controlled by Lev Leviev. A brief statement on the company's website says "We are opening on March 10, come and visit."

Last month AFI Development told investors that it had again postponed opening of the mall. The company planned a "soft opening" in March and a "grand opening" in May.

The company expects 160 stores to open in AFIMall in March. AFI Deveopment has leased 74% of the mall's space and believes that at least 80% of thespace still to lease will open within three months.

Published by Globes, Israel business news - www.globes-online.com - on March 3, 2011

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