Demolition of buildings for City Park in Jihlava will begin in November

JIHLAVA - Demolition work on the buildings under the Znojmo Bridge in Jihlava, where the City Park entertainment and shopping center is planned to be built, is expected to begin in November. In recent months, the investor, the project company CEI Building, continued to acquire land. "To date, the investor has over 17,000 square meters, which is more than three-quarters of the required land," said Luděk Jeníš from the company PSJ Invest, which will be overseeing the construction.
According to Jeníš, the investor has already signed a contract with the design firm Pilař, Kuba architects. The company Cushman & Wakefield, one of the leading real estate companies in the Czech Republic, is further collaborating on the project as a real estate agent and advisor.
The actual construction of City Park should start in mid-2006. The investment is estimated to be around 1.3 billion crowns. "The center will open for the first visitors in the autumn of 2008," Jeníš stated. The investor has also commenced discussions on financing, which will be a combination of its own resources and a bank loan. "Our company is financially secure with support from foreign capital," previously stated Martin Jaroš from CEI Building.
City Park will feature about 25,000 square meters of retail space, a multiplex cinema with four to five screens, and approximately 450 seating places. There will be several restaurants, cafes, and a parking lot with 850 spaces. "The dominant part of the entire center will be an open shopping arcade with squares and escalators connecting two shopping floors with two floors of garages," said Jeníš.
The City Park project in Jihlava has been pursued for several years by the company NOVA projekt. CEI Building entered the project last December as a 100% investor.