Elad Group, the New York-based real estate developer, has confirmed a postponement of plans on a multibillion dollar Las Vegas Strip project as well as the repayment of a $625 loan.
In March, the group said construction would begin at the end of 2008.
"The (Las Vegas) Plaza project is set to break ground a little later than expected and will do so in 2009," Michelle Tsang, a spokeswoman for Elad IDB Las Vegas LLC, a joint venture between Elad and Israel's IDB Group, told Reuters.