DTZ said it advised AAIM on the purchase earlier this month of Arena Plaza shopping centre, Hungary's largest-ever property transaction. The company bought the centre from its developer, Plaza Centers, a leading emerging markets property developer, for EUR 390 mln. 'We have bought over EUR 2.5 bn of assets in four years since our launch, and formed a joint venture - the Symmetry Fund - with Bank of Scotland in September 2006 with a remit to fully invest the first fund in two years. The purchase of Arena Plaza has fully allocated this fund a year a head of schedule,' said Mat Web Jenkins, who leaded AAIM's acquisition team.

DTZ said it advised AAIM on the purchase earlier this month of Arena Plaza shopping centre, Hungary's largest-ever property transaction. The company bought the centre from its developer, Plaza Centers, a leading emerging markets property developer, for EUR 390 mln. 'We have bought over EUR 2.5 bn of assets in four years since our launch, and formed a joint venture - the Symmetry Fund - with Bank of Scotland in September 2006 with a remit to fully invest the first fund in two years. The purchase of Arena Plaza has fully allocated this fund a year a head of schedule,' said Mat Web Jenkins, who leaded AAIM's acquisition team.

'Arena Plaza is one of the largest and most prestigious shopping and entertainment centres in Central and Eastern Europe. Upon completion, the project will represent our 25th shopping and entertainment centre in the region and our 17th shopping and entertainment centre in Hungary. In addition, we have fifteen other projects in our pipeline in different stages of development,' said Ran Shtrarkman, ceo of Plaza Centers.

Arena Plaza will be Hungary's largest retail development with a rentable area of 66,000 m2. Tenants include Peek & Cloppenburg, H&M, Electro World and Inditex Group. The scheme is anchored by a 10,000 m2 Tesco hypermarket, a two-level underground customer carpark with 2,800 spaces, a 22- screen Cinema City complex and Hungary's first IMAX 3D cinema.