September 29, 2016 / 4:50 PM / 10 months ago

BRIEF-Elbit Imaging announces negotiations for Belgrade Plaza (Visnjicka)

1 Min Read

Sept 29 (Reuters) - Elbit Imaging Ltd

* Elbit imaging announces negotiations on a possible forward sale transaction of Belgrade Plaza (Visnjicka) by its subsidiary, Plaza Centers

* Plaza will be entitled to an additional payment of approximately eur 15 million upon opening of shopping center.

* Plaza will complete development of property and will remain as asset manager of operating shopping center for 12 months

* Plaza will receive up to eur 35 million from purchaser

* Construction of project is in advanced stages and shopping center is on schedule to be open in first half of 2017, is currently over 50% pre-let

* Expected transaction closure is in Q4 of 2016

* Upon completion of project, Belgrade Plaza will comprise approximately 32,000 SQM of GLA Source text for Eikon: Further company coverage:

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