Businessweek

Elbit Imaging Ltd. engages in the initiation, construction, and sale of shopping and entertainment centers and other mixed-use real property projects, primarily in the retail sector located in central and eastern Europe (CEE) and in India. The company also engages in hotel operation and management, primarily in European cities. The company also has investments in the research and development, production, and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment, as well as development of stem cell population expansion technologies and stem cell therapy products for transplantation and regenerative medicine. SHOPPING AND ENTERTAINMENT CENTERS This business includes mainly shopping and entertainment centers which are under construction and/or development in capital and important regional cities in various countries in CEE and India. In addition to the shopping and entertainment centers business, its real estate portfolio includes certain mixed-use real estate projects, which include primarily shopping and entertainment combined with other elements of operations, including offices, residential units, conference centers and leisure facilities. This business also includes other real estate projects, such as office buildings. Construction or development of each such project is generally conducted through a special purpose project corporation, owned by Plaza Centers N.V. (PC). The company’s shopping and entertainment segment of operations includes a total of seven operating projects and 27 projects in various stages of planning, development and construction, including 14 shopping and entertainment centers, 14 mixed-use projects and one office building. Its projects are located in Bulgaria, the Czech Republic, Greece, Hungary, India, Latvia, Poland, Romania, and Serbia. Strategy The company’s strategy for its shopping and entertainment centers includes various elements, including develop modern western-style shopping and entertainment centers and mixed-use developments in the capital and regional cities of selected countries, primarily in CEE and India, for the medium and long term; acquire operating shopping centers that show significant redevelopment potential (either as individual assets or as portfolios) for refurbishment and subsequent re-sale; and pre-sell the centers prior to, or after, commencement of construction or redevelopment. Operating Projects Riga Plaza - Riga, Latvia: PC has opened the Riga Plaza in Latvia. This shopping and entertainment center is located on the west coast of the Daugava River, and consists of a 3-floor shopping and entertainment center with a gross lettable area (GLA) of approximately 49,000 square meters and approximately 1,500 parking spaces. It houses approximately 140 stores, anchored by a supermarket on the ground floor, an 8-screen multiplex cinema, and a 2,000 square meter bowling and entertainment area. Liberec Plaza - Liberec, Czech Republic: PC has opened the Liberec Plaza, in the center of Liberec, a city in the north of the Czech Republic. This shopping and entertainment center has a GLA of approximately 17,000 square meters and includes an anchor supermarket, fashion retailers, a Fantasy Park, a food court and restaurants. The center also includes a residential area of 850 square meters and 800 square meters of office space. This center is 100% owned by PC. Zgorzelec Plaza - Zgorzelec, Poland: PC opened the Zgorzelec Plaza in Zgorzelec, Poland, a town in south-western Poland. This shopping and entertainment center has a GLA of approximately 13,000 square meters. It houses approximately 60 stores, anchored by a supermarket and brand name fashion retailers and has 300 parking spaces. This center is 100% owned by PC. Suwa³ki Plaza - Suwa³ki, Poland: PC opened the Suwa³ki Plaza in Suwa³ki, Poland, a town in north-eastern Poland. This shopping and entertainment center has 3 floors, with a GLA of approximately 20,000 square meters and 450 parking spaces. It houses approximately 65 stores, anchored by brand name fashion retailers, a 3 screen cinema, fantasy park bowling and entertainment center and a delicatessen. This cente