Plaza Centers, a company controlled by Israeli developerMordechay Zisser, who also owns the Radisson hotel in Bucharest,has put on hold the eight projects it has on the Romanian market,which entail investments estimated to be worth around two billioneuros and include the Dambovita Center project on the site of theCasa Radio (Radio House) in central Bucharest. "At present, thebusiness plan figures for building a shopping centre don't add upso we also halted construction of the Miercurea Ciuc shoppingcentre. We may have to wait two years, but the prospective revenuesfrom rental, which we are giving up, may be compensated for later,"Luc Ronsmans, country manager of Plaza Centers, told ZF. Thecompany has up until now invested around 250 million euros on theRomanian market for the acquisition of a 75% stake in the DambovitaCenter project and for land in Iasi, Timisoara, Slatina, Hunedoara,Miercurea Ciuc, Constanta, and Targu Mures. These projects do notgenerate revenues, but they do not entail significant expenses,either, considering that they were bought from the company's ownfunds.
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