A new shopping center will be built in Pardubice by the end of 2007

Pardubice - A new commercial and social center will be built in Masaryk Square in the center of Pardubice by the end of 2007. An Israeli investor has today purchased the land from the city for the construction of this multifunctional complex after three years of negotiations, and will provide about one billion crowns. In the second phase, a hotel and residential buildings should be created here, Nataša Hradní from the press department of the Pardubice magistrate told ČTK.
The investor intends to start construction of the center, which will feature a variety of shops, cafes, and a multiplex cinema, later this year. In the following years, the project will continue with the construction of the residential part. "Masaryk Square in the city center will be a dignified place, not a clay space where circuses stand,” said the Mayor of Pardubice Jiří Stříteský after signing the contract.
BOHEMIA-SEN, a subsidiary of Africa Israel International Investments, will pay approximately eight million crowns for around 2.6 hectares of land. If the company does not fulfill its obligations outlined in the contract, the city will have first refusal rights on the land, added Hradní. The company has previously built, for example, the Flora Palace or the Korunní Dvůr residential complex in Vinohrady, Prague.