Budapest-based Trigranit has joined a growing group of companies in Central and Eastern Europe and Russia which are freezing new developments. The company is cutting its EUR 8 bn development pipeline by half and is considering postponing investments in remaining schemes by up to five years due to the worsening financial crisis. Plaza Centers, the emerging markets shopping centre developer, said it could freeze up to 26 of its 32 projects, or over 81% of its development pipeline, in light of the 'extraordinary market conditions.'
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