Plaza Centers opens Belgrade shopping centre

AIM-listed merging markets property developer Plaza Centers opened Belgrade Plaza, its 34th shopping centre and its second in Serbia, on Thursday.

The shopping centre is 97% let and is expected to be fully leased in the coming months.

Plaza's subsidiaries have signed a binding share purchase agreement with BIG Shopping Centers, an Israel-listed company, for the sale of the Belgrade Plaza shopping and entertainment centre.

As part of the deal, Plaza will receive €2m for opening the centre and in line with the company's restructuring pan, 75% of the proceeds will be distributed to Plaza’s bondholders. Future proceeds are expected subject to certain conditions being met.