Raiffeisenbank will finance the project Nová Karolina Park in Ostrava, developed by PasserInvest. The bank approved a loan agreement to lend CZK 715m together with Raiffeisenlandesbank Oberösterreich AG. Nová Karolina Park is to bring 24,600 sqm of A class office to Ostrava’s office market, along with an additional 4,000 sqm of retail space. The project, scheduled for completion by the end of 2012, is part of the Nová Karolina development in Ostrava city center, involing three major players — Multi Development Czech Republic, Gemo Olomouc and Passerinvest Group.
