Annual report 2010 - plazacenters

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Koregaon Park Plaza: under construction
In 2007 Plaza purchased a plot of land of approximately six acres
(24,000m2) in Koregaon Park, an up-market area of Pune,
Maharashtra State, India.
Plaza is developing the site into a mixed-use scheme with
a total GBA of approximately 110,000m2 including shopping
center (93,000m2) and offices (17,000m2) all inclusive of
underground parking.
The project is currently under construction and approximately
55% of the mall is pre-let.
Koregaon Plaza will become the Company’s first completed
project in India during H2 2011.
Kharadi Plaza: under planning
Plaza Centers is party to a 50:50 joint venture with a local Indian
developer which holds 14 acres of land (56,000m2) in the Kharadi
area in Pune, Southern India.
The Company intends to develop its plot of land through the
construction of three office buildings comprising approximately
165,000m2 of gross built area.
Plaza has made good progress with the construction of the
first phase, a 28,000m 2 building known as “Matrix One” which
is expected to be completed in H2 2011.
To date, Plaza has pre-sold 70% of the saleable area in Matrix One.
Trivandrum Plaza: under planning
The Group has a site in the city of Trivandrum (with direct linkage
to the bypass road which is adjacent to the project premises)
on which it intends to develop 195,000m2 GBA of a shopping
and entertainment center together with office premises and
a serviced apartment facility.
Bangalore: under planning
The JV has a 50% stake in a company which holds a 165 acre plot
in Bangalore.
The site is located on the Eastern side of Bangalore, India’s fifth
largest city, with a population of over seven million people.
The JV intends to develop the site into a mega project with a total
built area of over 320,000m2.
The project will comprise over 1,000 residential luxury villas.
Chennai: under planning
The JV has an 80% stake in a company which holds a 90 acre plot
in Chennai.
Chennai is India’s fourth largest city with a population of over
ten million people.
The site will be developed into an integrated mixed-use project
consisting of high-rise residential units and high-quality villas
with a total built area of 800,000m2.
Kochi Island: under planning
The JV has a 50% stake in a company which holds a 41 acre plot
in Kochi.
The site is located on a backwater island adjacent to the
administrative, commercial and retail hub of the city of Kochi,
in the state of Kerala, with a local population of more than
three million people.
The mixed-use project will comprise over 575,000m2 of high-end
residential apartment buildings, office complexes, a hotel and
serviced apartment complex, retail area and marina.
Trivandrum is a major city in the South of India. The city is the
State of Kerala capital and houses many central and state
government offices, organizations and IT companies. Apart from
being the political center of Kerala, it is also a major academic
hub and is home to several educational institutions. It has a
population of three million inhabitants.
Plaza Centers N.V. Annual report 201019