Source - Alliance News

Plaza Centers NV on Tuesday sad it remained focused on unblocking the current status of the Casa Radio project in Romania.

The Amsterdam-headquartered property investor with interests in Europe and India said pretax loss narrowed 3.5% to €8.2 million in 2023 from €8.5 million in 2022.

However, the loss attributable to shareholders increased to €38.9 million from €8.5 million, mainly due to net finance costs which increased to €37.2 million from €8.9 million.

Plaza Centers said it remained focused to unblock the current status of the Casa Radio project in the city centre of Bucharest, in which it holds an effective 75% stake.

In May 2022, Plaza Centers issued a request for arbitration against Romania with respect to its Casa Radio project. In April 2023, the company said it had filed its memorial and supporting evidence at the International Centre for the Settlement of Investment Disputes. At the time, it said it sought full compensation for its losses with respect to the project, currently estimated to be up to €367.7 million as at March 31, 2023.

Plaza Centers shares closed flat at 41.00 pence each on Tuesday in London.

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