Plaza Centers, the subsidiary of mixed-use shopping and entertainment centres developer Elbit Imaging Group, has announced its plan to start leasing its ‘Shoppertainment’ centres, which are being developed in six cities across India.
Speaking to media during this announcement, Ran Shtarkman, president and chief executive officer, Plaza Centres NV, said: “India is an exciting and significant opportunity for Plaza Centers as the country has experienced significant economic growth over the last seven years, which is expected to continue in the coming decade.”
“With increase in household income, there is huge demand for western style retail complexes in India. We look forward to meeting some of this pent-up demand with the delivery of a number of large projects in the coming years, starting with the opening of our Pune scheme in 2010,” added Shtarkman.
Plaza Centers, which has been present prominently in central and eastern European countries for over a decade, has developed around 50 malls across nine countries and is all set to launch its first 10 western style ‘Shoppertainment’ projects in six Indian cities including Bengaluru, Chennai, Cochin, Hyderabad, Pune and Trivandrum by 2010.