December 14 (SeeNews) - Israeli company BIG Shopping Centers has made a 466,000 euro ($525,800) deferred payment to Dutch-based real estate developer Plaza Centers N.V. for the stands and signage at the Big Fashion mall in Belgrade, the Dutch company said.
BIG Shopping Centers intends to hold an additional 1 million euro until an orderly engineering examination of the mall's technical conditions is completed as part of the final price adjustment to be performed in May 2020, Plaza Centers said in a statement on Thursday.
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In January 2017, Plaza Centers said it signed a binding agreement to sell the shopping and entertainment centre to BIG Shopping Centers Ltd for 28 million euro plus further payments which will be conditional on operational targets and milestones.
BIG Shopping Centers launched a shopping mall in Novi Sad, in northern Serbia, in October 2012. The company invested 50 million euro in the shopping mall, named BIG Shopping Center, which has a retail space of 40,000 sq m.
($ = 0.8861 euro)