Plaza Centers has confirmed it received the official notification from the Romanian state and specified that the request includes the demand to return all project assets to the Romanian state.
According to Plaza Centers, the claim amount increased from around EUR96 million (not including VAT and interest rates) to around EUR2 billion.
Casa Radio project, subsequently renamed Dambovita Center, was launched in 2006 as a public-private partnership between the Romanian state and developer Plaza Centers N.V., part of Israeli group Elbit Imaging.
Over years, the project has been blocked by legal disputes, legislative changes and disagreements about land and building ownership rights.
(English version by Catalina Apostoiu)