The office project Nová Karolina Park,
located in the north-eastern part of a newly urbanized area,
is the last of the three buildings whose development has failed
to continue within the first phase of the implementation of one of the largest
urban development projects in the Czech Republic.


“The crisis has frozen the office market in Ostrava and other places. With the entrance of the new strategic partner and the allocation of more our own capital, it will be possible to complete the project, without having to wait for “another Tieto”, which might not turn up as well. In view of this, we will be also able to offer prime office premises at the best place in Ostrava to those customers who need only a few hundreds of square metres. I am convinced that we have adopted a solution that will benefit all the parties as well as the Ostrava public,” says Radim Passer, Chairman of the Board, PASSERINVEST GROUP.
This six-storey administrative development has been designed by Vít Máslo and David R. Chisholm from CMC architects. Comprised of a homogenous monolithic building with an inner walk-through courtyard and two gates, it is designed in harmony with the existing surrounding buildings. Aside from 24,600 square metres of attractive office areas with flexible partition walls, the building will have an interconnected underground floor intended as a parking lot for almost 280 cars. The ground floor will offer 3,700 square metres for retail. Incidentally, discussions with interested parties are currently in progress, negotiations on the lease of the office premises are being resumed.
Aside from PASSERINVEST GROUP and MULTI Development, there is another partner in the project, GEMO OLOMOUC that has also become general contractor for the construction. “As the construction has been stopped for a long time, all the previously completed work is being checked, with the emphasis on the pile foundation and the footing bottom maintenance. At the same time, the business and technological aspects of the entire structure are being dealt with. The construction itself is set to begin early this September when the work on the monolithic skeleton of the basement and the upper structure will start, being scheduled for completion in the half of April 2012” says Ing. Jaromír Uhýrek, CEO, GEMO OLOMOUC. The company is also the general contractor for the development of the shopping and entertainment centre and the co-developer of the residential scheme, Rezidence Nová Karolina.

”I am delighted to see that the work on the project for Nová Karolina Park, which had to be brought to a halt owing to the crisis, has been resumed and we have managed to activate the construction of one part of Phase 1 (whose considerable importance lies in its prominent location) of Nová Karolina, one of the largest urban development project in the Czech Republic,” says Ing. Arch. Luboš Kočí, CEO, Multi Development CR, and continues: “In view of this, modern office premises will be available, in addition to the shopping and entertainment centre, new streets and squares, large infrastructure and leisure time venues. Accordingly, the whole new part of the city is actually being erected in Ostrava.”