Shopping centre

Frýdek Místek, Czech Republic

In the autumn of 2013 TK Development sold an 80 % stake in a planned shopping centre project in the Czech town of Frýdek Místek to a business partner. Following the sale, TK Development currently holds an ownership interest in the project of 10 %. The shopping centre will consist of about 60 retail stores. TK Development will receive fee income for letting and managing the construction of the project and related services. The current occupancy rate is 84 %, and lease agreements have been concluded with such tenants as Billa, Intersport, H&M, NewYorker and Euronics. Construction started in autumn 2013, and the opening is scheduled for the end of 2014.