New zl. 360 million Silesia Park retail center for Katowice

Nowe Centrum (NC) is to begin construction of a new retail and entertainment center called Silesia Park in Katowice by the beginning of June. The cost of the investment is estimated at zl. 360 million. Around 15% of the cost will be covered by the European Bank for Reconstruction and Development (EBRD), with the investor covering the rest. "There are a lot of organizations willing to invest in this project. We are currently holding talks with a foreign investor. We hope we can finalize these talks in April," said Janusz Olesinski, deputy head of NC. Silesia Park is to cover 90,000 m2 and will be built across 30 hectares. Some 12,000 m2 of the center will house a supermarket, which will be operated by Ahold. NC, was formed in December 1999 and is 55% owned by UK-based developer, Chelverton International. The center is expected to annually attract up to 15 million shoppers. If so, this could mean the costs of the investment would be returned within even six years. The remaining 45% stake in the company is held by Katowickie Holding Weglowy. (Puls Biznesu, p. 11) A.K.