Global developer Plaza centre to invest in India

Mumbai Sep 3 (UNI) Global developer Plaza centre would create 50 commercial and entertainment centers in India at an estimated investment of Rs 50 billion as part of its endeavour to offer growth and profitability within the shortest gestation period.

An indirect subsidiary of Elbit Medical Imaging Ltd, an Israel based real estate developer company, Plaza centre would set up the centres in tier-1, tier-2 and tier 3 cities in the next five years.

Based at Bangalore, the company has already started work on five centres in Southern India which will be ready by the year end.

Talking about the plans in India, Abraham Goren, Executive Vice Chairman of the company, said ''Plaza centres will create organised retail with a pan India presence as we see a huge opportunity and have long term plans here''.

Plaza centre has a major presence in Eastern Euorpe and Central Asia.

'' We want to replicate our global model in India, offering growth and profitability within the shortest gestation period,'' added Mr Goren.

UNI