"Plaza Centers and Israeli businessman Sammy Smucha have bought Új Udvar shopping mall in Budapest's 3rd district, which will be closed for about six months for reconstruction, local broadsheet Népszabadság reported on Friday.Soleh Bolei, who built the mall nine years ago, will remain among the owners. The acquisition and the reconstruction works will absorb a total of EUR 30 m.
The new owners will replace the movie theatre, which has been out of operation for years, with a bowling centre and the current CBA will give over to a bigger, 3,000-sqm supermarket.
The building's entrance on Bécsi út will also be remodeled, just like the inner space that had been constructed to be best fit for small shops.
Plaza Centers starts trading on the Warsaw Stock Exchange today. It is set to introduce about 292 million shares with a face value of EUR 0.01 per share.
Plaza Centers has an established 11-year track record of mall development in Hungary, the Czech Republic and Poland, which it is now replicating across many Central and Eastern European countries and India. Its project list currently includes 26 sites, representing an investment cost of EUR 2.2 bn and a completed value of EUR 3.5 bn."
Source:
Portfolio Omline Financial Journal
Photo for illustration purposes only
19.10.2007