London-listed Plaza Centers has entered into a joint venture partnership with Bas Development (Bas) to develop residential and office projects in Romania. Plaza, which describes itself as an emerging markets property developer, said it will own 50.1% of the joint venture company and Bas will hold the rest. The new company will acquire Bas' ownership in five existing residential and office developments for EUR 6.9 mln, while Bas will retain responsibility for the project management.
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