Plaza Centers opens Belgrade shopping centre
AIM-listed merging markets property developer Plaza Centers opened Belgrade Plaza, its 34th shopping centre and its second in Serbia, on Thursday.
The shopping centre is 97% let and is expected to be fully leased in the coming months.
Plaza's subsidiaries have signed a binding share purchase agreement with BIG Shopping Centers, an Israel-listed company, for the sale of the Belgrade Plaza shopping and entertainment centre.
As part of the deal, Plaza will receive €2m for opening the centre and in line with the company's restructuring pan, 75% of the proceeds will be distributed to Plaza’s bondholders. Future proceeds are expected subject to certain conditions being met.