ECE secured a planning permit for its project in Hradec Králové, which includes refurbishing the local football stadium and building a shopping mall next to it. The project is expected to cost CZK 3bn. ECE is closely cooperating with the city on the project. The developer will buy land it needs for the retail component from the city, and the city will use the money from the land sale to finance the reconstruction of the football stadium. The city plans to start work on the stadium this year. ECE’s Arkády shopping center will compete with the Aupark shopping mall being developed by HB Reavis, which secured its planning permit a year ago. Work on Aupark is set to start in autumn 2013.
