The company plans to buy land and build shopping centers over the next five years.
Gazit-Globe Ltd. (TASE: GLOB) will invest €200 million in Bulgaria over the next five years through its subsidiary, Gazit-Globe Israel Ltd. The company plans to buy land and build shopping centers. It has already invested €20 million to buy to two lots for two shopping centers and offices in Sofia with an aggregate space of 150,000 sq.m.
Gazit-Globe Israel has bought a five-acre lot in Plovdiv with building rights for a 25,000-sq.m. shopping center, and is expected to announce the purchase of another lot for €10 million. The company has also bought a building in Sofia for its headquarters in the country.
Published by Globes [online], Israel business news - www.globes.co.il - on March 5, 2007
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