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Article: Africa-Israel invests NIS 820m in Romanian mall: Africa-Israel predicts that the Cotroceni Park mall will be opened in mid-2008.

Article from:
Globes
Article date:
October 30, 2006
Copyright

Byline: Uri Shuster

Oct. 30--Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) today announced that it has begun construction of the Cotroceni Park mall in Bucharest, which will become Romani's largest mall, for an investment of NIS 820 million. In December 2005, Africa-Israel bought half of the land on which the mall is being built for e1/49 million. NCH Capital owns the other half of the venture. Earthworks for the project was recently completed, and Africa-Israel chairman Lev Leviev believes that the project's second stage can begin immediately, simultaneously with the first stage. This will expedite construction and bring forward the mall's occupancy. ...

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