TK Development launches construction of the first outlet center in the Moravian-Silesian Region

TK Development, a real estate development company, has received a construction permit for building Outlet Arena Moravia. It will rise in the vicinity of the center of Ostrava, lying immediately adjacent to the D1 Motorway, on a vacant lot in Hlucinska Street (in proximity of two traffic arteries, with approximately 60,000 vehicles passing every day). Construction works are beginning these days, and Phase 1, offering 11,700 m2 of total leasable area, is scheduled to open next autumn. A total of 70 shops will be available there, offering attractively priced products of the world´s famous brands, along with restaurants, cafés, and a children´s play area. Also, the center will have 800 parking places and those not traveling by car will be provided with shuttle buses from the center of Ostrava, with a mere ten-minute ride.

“Building on the great wealth of experience in construction and operation of outlet centers not only in Europe, but also in the capital city of the Czech Republic, we are bringing this proven format to Northern Moravia. We are delighted to say that our project is of extremely strong interest to prospective tenants: 70% of Phase 1 has been leased out,” said Mogens Pedersen, CEO, TK Development. “This achievement is certainly also due to the perfect location of the Arena, which will attract Czech customers from Ostrava and adjacent towns, along with those from neighboring Poland. Major employers operate in the region and a population of 3.2 million, with a strong buying power, live within 60 minutes´ driving range. Moreover, the nearby Beskydy Mountains rank among the most frequented mountain resort destinations in the Czech Republic. This is why we expect that the Arena will be attended by thousands of tourists as well.”