The construction of Nová Karolina in Ostrava was also interrupted by Passerinvest

Ostrava - The company Passerinvest, which took over the construction of the administrative building Nová Karolina Park last autumn, has suspended construction work due to a lack of funds. This is reported by today's edition of E15. The construction of the entire shopping center and other buildings on the site of the former coking plant in the middle of Ostrava has thus been indefinitely interrupted, because the tender winner, the company Multi Development, suspended work last October due to the financial crisis.
    "Currently, negotiations are underway with financial institutions to secure further financing for the project, as well as negotiations with potential tenants," said Passerinvest spokeswoman Hana Gottwaldová to the newspaper. When asked when construction activity might return to Nová Karolina, she stated: "We will strive to minimize the duration of the construction interruption."
    However, the criteria set by banks are strict today. Among other things, they require that the investor has secured tenants for more than half of the area in advance. According to the website Nová Karolina Park, nearly 25,000 square meters of planned space is still available, writes E15.
    The first phase of construction of Nová Karolina was officially launched by Multi Development, then still as the sole developer, in June last year. By mid-2010, a commercial and entertainment center of 56,000 square meters and a residential project with two hundred apartments were to be built in addition to the office complex. The project also included the reconstruction of the historical buildings of the Power Plant and the Central Power Station. A total investment of seven billion crowns was planned for the first phase.