News  
Dates  
 
group history  
1996 First investment in Hungary
1996-2004 Developed and managed a portfolio of 20 shopping and entertainment centers
2004 Sold 12 shopping and entertainment centers to Klépierre at a gross asset value of €278 million (c. 9.3% net yield)
2005 Sold 4 shopping and entertainment centers to Dawnay Day at a gross asset value of €54.4 million (c. 9.2% net yield)
2005 Sold 4 shopping and entertainment centers to Klépierre at a gross asset value of €204 million (c. 8.4% gross yield)
2005 Forward sold 5 shopping and entertainment centers to Klépierre
2006 Sold 1 shopping and entertainment center to Klépierre at a gross asset value of €50 million (c. 7.9% gross yield)
2006 Initial Public Offering on the London Stock Exchange with gross proceeds raised of £166.2 million
2007 First Transaction in India
2007 Sold 3 shopping and entertainment centers  to Klépierre at a gross asset value of €129 million (c. 7.3% gross yield)
2007 Forward sold 1 shopping and entertainment center to aAIM for app. €387 million (c. 5.9% gross yield)  
2007

Introduction to Exchange trading shares of Plaza Centers in the main market on WSE

 
2007-2011 Gross proceeds raised of app. €370 million from bond issuance on the Tel Aviv Stock Exchange  
2008 Sold 1 shopping and entertainment center to Klépierre at a gross asset value of €61.4 million (c. 7.3% gross yield)  
2009 Opening of 2 new shopping and entertainment centers in Riga (Latvia) and in Liberec (Czech Republic)  
2010 Opening of 2 new shopping and entertainment centers is Zgorzelec and Suwalki (Poland)  
2010 First transaction in the US retail market  
2011 Opening of 1 shopping and entertainment center in Torun (Poland)  
2012 Opening of 2 shopping and entertainment centers in Kragujevac (Serbia) and in Pune (India)  
2012 Sold 47 US-based shopping and entertainment centers in the US at a gross asset value of $1.428 billion  
2012 Sold the remaining two US-based assets for a total consideration of $41.8 million  
2013 Completed the sale of its 50% interests in a vehicle which mainly holds interests in an office complex project located in Pune, India, generating gross cash proceeds of circa €16.7 million in line with its holding  
2013 Sold 1 office complex in Pune, India at a transaction value of €33.4 million  
2013 Sold 1 logistics and commercial center in Prague, Czech Republic at a transaction value of €11 million  
2013 Sold 1 site in Roztoky, Czech Republic at a transaction value of circa €2 million  
2013 Sold 1 project, Dream Island in Hungary at a transaction value of circa €15 million  
2014 Sold its 35% stake in Új Udvar project in Budapest (Hungary) for cash proceeds of €2.35 million  
2014 Sold 1 site in Targu Mures, Romania at a transaction value of circa €3.5 million  
2014 Sold 1 shopping and entertainment center in Kragujevac (Serbia) at a gross asset value of €38.6 million  
2014 Sold 1 site in Hunedoara, Romania at a transaction value of €1.2 million  
2015 Sold 1 shopping and entertainment center in Pune (India) at a gross asset value €35 million  
2015

Sold 1 site in Iasi, Romania at a transaction value of €7.3 million

 
2015 Completed the sale of an office building in Bucharest, Romania (823sqm GLA) for €1.1 million  
2015 Completed the sale of part of a plot in Lodz, Poland for €0.5 million  
2015 Completed the transaction to waive its leasing rights of the Cina property in Bucharest, Romania, which has been sold by its owner. The gross proceeds from the transaction were circa €2.7 million  
2016 Liberec Plaza sale completed for €9.5 million. Following net asset value adjustments related to the subsidiary's balance sheet, the group received net €9,37 million.  
2016 Completed the sale of a 23,880 sqm plot in Slatina, Romania generating cash proceeds of €0.66 million  
2016

Signed a binding pre-agreement to sell the plot in Piraeus, near Athens, Greece, for €4.7 million. The sale agreement with a third party developer is subject to certain conditions being met, including due diligence which has up to six months to complete

 
2016

Entered into a business sale agreement with respect to the sale of Riga Plaza shopping and entertainment centre in Riga, Latvia, to a global investment fund. The agreement reflects a value for the business of circa €93.4 million

 
2016

 Sale of the wholly owned subsidiary, which holds the “MUP” plot and related real estate in Belgrade, Serbia, for €15.9 million

 
2016

Sold a 20,700 sqm residential plot in Lodz, Poland for €2.4 million 

 
2016 Disposed an 18,400 sqm plot in a suburb of Ploiesti, Romania to a local investor for €280,000  
2016 Completed the sale of a 20,700 sqm plot of a residential plot in Lodz, Poland, to a residential developer, for €2.4 million which had been received in few installments including H1 - 2017.  
2016
Completed the sale of Riga Plaza shopping and entertainment centre in Riga, Latvia to a global investment fund.
The agreement reflects a value for the business of circa €93.4 million.
Completed the sale of Riga Plaza shopping and entertainment centre in Riga, Latvia to a global investment fund. The agreement reflects a value for the business of circa €93.4 million.
 
2016 Signed a preliminary sale agreement for the disposal of a 1.8 hectare plot in the centre of Leszno, Poland for €810,000. In June 2017, a final sale agreement signed and proceed received.  
2016 Completed the sale of the shares in Zgorzelec Plaza. A Share Purchase Agreement has been signed with an Appointed Shareholder nominated by the Bank, after which the remainder of the DRA process was completed, including delivery of the Release Letters to the Company, and removing a mortgage over the asset of the Company in Leszno, Poland (valued at €0.8 million), as described in the announcement on 30 June 2016. Plaza recognised an accounting profit of circa €9.2 million, stemming from the release of €23.0 million of the outstanding (and partially recourse) loan (including accrued interest thereof), against an outstanding asset valued at €12.7 million.  
2017 Completed the sale of Suwałki Plaza shopping and entertainment center for € 43.1 million. The Company has received circa €16.5 million net cash, after the repayment of the bank loan (circa €26.4 million), and other working capital adjustments.  
2017 Completed sale of David House office building in Hungary for € 3.2 million.  
2017 Completed sale of Shumen Plaza plot in Bulgaria for € 1 million.  
2017 Completed the sale of the Belgrade Plaza shopping and entertainment centre. Upon completion of the transaction, the Company received an initial payment of EUR 31.7 million from the purchaser, further EUR 2 million has been received following the opening, further payment of EUR 13.35 million has been received during September 2017 and additional payments are contingent upon certain operational targets and milestones being met. The Purchaser has provided a guarantee to secure these future payments. The received consideration is after the deduction of the bank loan (circa EUR 15.4 million). Belgrade plaza is the 34th shopping centre built by Plaza and its second scheme in Serbia.  
2017 Signed a preliminary sale agreement for the disposal of a 13,770 sqm plot at its second land holding in Lodz, Poland, (representing 22% of this holding) to a retail developer, for €1.2 million. As part of the agreement, the purchaser paid an immediate installment of EUR 0.035 million and the completion payment to make it totaling 10% of the sale price, comprising an immediate installment already paid of EUR 0.035 million followed by an installment of EUR 0.085 million shall be paid when the purchaser obtains environmental permit for investing in the access road to the plot. The remaining balance minus 50% of the sum invested in the road (up to maximum amount of EUR 0.12 million) will be paid once a building permit is obtained for development of the land which is expected to be granted till the end of 2018.  
2017 Completed the sale agreement for the disposal of a 2.47 hectare plot in the centre of Kielce, Poland,for €2.28 million. Plaza received a down payment of €465,000 when the preliminary sale agreement was signed in October 2016. Now that the final agreement has been signed, the remaining €1,815,000 has been paid.  
2017 In June 2017, Elbit Plaza India Real estate (EPI) signed a revised sale agreement with the former partner (the “Purchaser”) which was further amended in March 2018. The Company signed an amended revised agreement as follows: The Purchaser and EPI have agreed that the total purchase price shall be increased to INR 350 Crores (approximately €45.8 million). Following the signing of the revised agreement and by the end of the current month, the Purchaser shall pay EPI additional INR 10 Crores (approximately €1.3 million) further to the INR 45 Crores (approximately €5.9 million) that were already paid during the recent year. Additional INR 83 Crores (approximately €10.8 million) will be paid by the Purchaser in unequal monthly installments until the Final Closing. The Final Closing will take place on 31 August 2019 when the final installment of circa INR 212 Crores (approximately €27.8 million) will be paid to EPI against the transfer of the outstanding share capital of the SPV.   
2017 Completed the final sale agreement for the disposal of a 1.8 hectare plot in Leszno, Poland for €810,000.  
2017 Signed an agreement for the disposal of a plot totalling approximately 32,000 sqm in Timisoara, Romania, for €7.25 million and proceed were received.  
2017 Completed the sale of a plot totalling approximately 30,000 sqm in Constanta, Romania, for €1.3 million.  
2017 Signed an agreement with an international investor, NEPI Rockcastle, on the termination of land use rights over a circa 21,788 sqm land plot adjoining Arena Plaza in Budapest, Hungary, registered to a subsidiary of the Company, Kerepesi 5 Irodaépület Kft (“K5”). The transaction also includes the termination of the preliminary easement agreement, which provided K5 with certain easement rights over the plot., K5 received a net sum of EUR 2.5 million.   
2017 Completed the sale of Torun Plaza shopping and entertainment center in Poland to a private investment fund. The Company has received circa EUR 28.3 million. This net cash is after the deduction of the bank loan (circa EUR 43.3 million), and other working capital adjustments in accordance with the balance sheet of the SPV holding the Project. The above-mentioned sums do not include the earn-out payments in an amount of EUR 0.35 million, reduced by NAV adjustment of EUR 0.15 million, to be received in 2018.