Cere Invest, a company representing a group of Dutch private investors, is hoping to build an office project in Ostrava. The 19,000 sqm office building, to be called Amsterdam Office Centrum, will be located near the new business area of Nová Karolina in the center of the city. The developer plans to start construction in 2015 but is likely to face fierce competition in a market plagued by 21 percent vacancy. In fact, CBRE expects that figure to jump to 28 percent this year.
Cere has already completed a few projects on the Czech market: a residential project in Prague Barrandov and apartments in Čeladná near Ostrava. The developer is currently building 125 flats in Olomouc, and its mixed-use Edison Centrum is in initial stages in Brno. Cere has invested €290m in the Czech Republic.
