PLAZA, the Arab Palestinian Shopping Centers (APSC) company, finalized a $3.1 million financing agreement with the Arab Islamic Bank (AIB). The funds will cover the cost of completing the construction of APSC’s first plaza in the West Bank city of Al-Bireh, reported the Atlas Investment Group.
APSC began construction work on the plaza in 1999. Although Israeli Military incursions have hindered its completion, APSC has not stopped operations and is preparing for the opening of the largest supermarket in Palestine Authority (PA) territory and the largest indoor children’s play center.
APSC is 51 percent owned by the Arab Palestinian Investment Company (APIC). It is a public firm traded on the Palestinian Securities Exchange. The company plans to establish and operate a chain of modern shopping plazas, full-scale supermarkets and food courts in the PA. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
