Zisser opens first Serbian mall

The Kragujevac Plaza is the 33rd mall that Plaza Centers has developed worldwide.

Plaza Centers NV (LSE:PLAZWSE:WLZ), controlled by Mordechay Zisser, has opened its first mall in Serbia, in Kragujevac. The Kragujevac Plaza is the 33rd mall that the company has developed worldwide.

Kragujevac is Serbia's fourth largest city, and the first mall to be complete outside the capital Belgrade. The 22,000-square meter mall will serve 590,000 people living within a 30-minute car trip. 70% of the mall's development was financed with a €33 million loan.

Plaza Centers president and CEO Ran Shtarkman said, "We continue to have confidence in the resilience of the Serbian market… We look forward to delivering further centers in Serbia, at a time when the country will begin to enjoy the benefits from its candidature to join the European Union and the additional access to development funding that this brings."

Plaza Centers is a subsidiary of Zisser-controlled Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT). Plaza Center's share price opened at ₤0.56 on the London Stock Exchange, giving a market cap of ₤134 million. Elbit Imaging's share price rose 1.1% in morning trading on the TASE today to NIS 9.28, after rising 1.7% on Nasdaq yesterday to $2.45, giving a market cap of $61 million.

Published by Globes [online], Israel business news - www.globes-online.com - on March 21, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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