GE Real Estate Central & Eastern Europe has entered into a forward funding agreement with Euro Mall Holdings, a subsidiary of TK Development, for the development of a shopping centre in Kolin and a retail park in Liberec, the Czech Republic for approximately EUR 44 mln. The shopping centre in Kolin will have a floor space of 10,000 m[sup]2[/sup] and is scheduled for completion in spring 2008.
GE Real Estate Central & Eastern Europe has entered into a forward funding agreement with Euro Mall Holdings, a subsidiary of TK Development, for the development of a shopping centre in Kolin and a retail park in Liberec, the Czech Republic for approximately EUR 44 mln. The shopping centre in Kolin will have a floor space of 10,000 m2 and is scheduled for completion in spring 2008.
The retail park in Liberec will have a floor space of 17,000 m2 and is being built in two phases, scheduled for completion in autumn 2008 and autumn 2009.
This is the third transaction that GE Real Estate has undertaken with TK Development in the Czech Republic following the acquisition in 2003 of four Czech shopping centres and the forward funding in 2006 of a retail park in Ostrava.
