Plaza Centers secured funding for 65 percent of the development costs for Timisoara Plaza. Construction could start by the end of the year. The shopping mall will go up on a 3.2 ha plot the developer owns in Timisoara.
Plaza Centers had acquired a number of plots across the country before the financial crisis hit with plans to develop a network of shopping centers. However, the Israeli company began offloading these plots in recent months, because it says it does not have the funds to move forward with those development plans.
