Elbit engages in the development of western style commercial and entertainment centers in Central and Eastern Europe and in India through our subsidiary Plaza Centers N.V., whose shares are traded on the main listing of the London Stock Exchange (LSE: PLAZ) and on the Warsaw Stock Exchange (WSE: PLAZ/PLAZACNTR).
Plaza Centers, the group’s leading emerging markets developer of shopping and entertainment centers focuses on construction, operation, management and sale of shopping and entertainment centers and, redeveloping existing centers, both in capital cities and in strategically located cities and developing regions.
Our Company has been present in Central and Eastern Europe since 1996 and was the first to develop western-style shopping and entertainment centers in Hungary. We pioneered this concept throughout Central and Eastern Europe whilst building a strong track record of successfully developing, letting and selling shopping and entertainment centers.
To date, we have developed, built and sold/forward sold 26 shopping and entertainment centers. In addition, we are currently in the process of developing approximately 30 shopping and entertainment centers and assets, which are under various stages of development in Hungary, Poland, Latvia, Romania, Czech Republic, Greece, Bulgaria, Serbia and India (andr 3 office buildings in Hungary, Romania and Czech Republic). Furthermore, Elbit is implementing an ambitious plan for the construction and operation of 50-60 shopping malls within the next five years, in Central and Eastern Europe and a similar number in India.
These centers are comprised of both commercial and entertainment elements. The entertainment facilities include a cinema complex, video arcades, games of chance and billiards. In the food court, a wide range of restaurant types offering variety of culinary opportunities from fast food to fancy foods. The commercial activities range from supermarkets and department stores offering a vast choice of commodities to patrons.