Plaza Centers has concluded its second transaction in Romania through the purchase of a 31,800 m[sup]2[/sup] plot of land in Timisoara, West Romania. Plaza is planning to develop a 30,000 m[sup]2[/sup] shopping centre and about 20,000 m[sup]2[/sup] of new mixed retail, office and residential space adjacent to the mall. The total estimated development cost of the project is EUR 60 mln.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
