Tesco 100% owner of Forum Liberec

One of the newsy bits at CEDEM this year was confirmation that Tesco has taken over the 50% share of Forum Liberec it didn’t yet own. The retailer signed a contract to that effect back in August with co-developer Multi Development, who one suspects has other projects to sink its equity into. Details of the deal haven’t been forthcoming yet, so we can’t tell you just how much it managed to pull out of the project. At CEDEM, Tesco’s Acquisition & Development Director CR/SR David Nekovar mentioned he was planning a dozen new hypermarkets. Keeping busy, we see.

Construction restarts on New Karolina

Hot on the heels of financing being put in place for Multi Development’s New Karolina scheme in Ostrava, the company has restarted construction on the huge scheme. Work ground to a halt in the aftermath of the financial crisis in late 2008, despite what’s said to be substantial, and real preleasing activity. 57,000 sqm of retail, 23,000 sqm of office and a couple hundred flats are all included in the first phase.