Elbit to build E. Europe's biggest mall
Wednesday, December 7, 2005, 11:49
Elbit Medical Imaging Ltd's Plaza Centers BV will spend Ft 30 billion to build Eastern Europe's biggest shopping and entertainment center in Budapest, according to Népszabadság. Plaza Centers will complete the development over two years on a former horseracing track it bought from Bouygues SA for €21 million last month, the newspaper reported, citing spokeswoman Vera Vadas. Plans include a 21-room movie theatre, a two-story hypermarket, shops, cafes, an art market and parking lots, with a hotel and offices to be added later. Tel Aviv-based Elbit last year formed a $673 million venture with Heitman Financial Ltd, a U.S. investor, to own and operate shopping and entertainment centers in Eastern Europe.