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14 February 2012
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22 February 2012
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03-04 May 2012
Vienna, Austria
Plaza Centers buys site to develop e85m mall in Poland's second city Lodz
Listed emerging markets shopping centre developer Plaza Centers has acquired a 55,000 sq.m. site in Lodz, Poland, for a new shopping and entertainment centre, its second acquisition in the city. Plaza targets a centre with 45,000 sq.m, GLA, with 120 retail units, and a gross development budget of some e85m. Poland's second-largest city southwest of Warsaw has a population of over 750,000. The acquisition is Plaza's 14th project in Poland. Since 1996 it has built, managed and sold shopping centres in Warsaw, Krakow, Poznan, Ruda Slaska, Lublin, Rybnik and Sosnowiec and recently started construction on two fully-funded developments in Suwalki. Despite the global downturn, the Polish market has remained fairly resilient.