in Moravia in the eastern part of the Czech Republic, on the highway to Ostrava (10 min drive) we build a Designer Outlet Village (factory outlet centre) of about 21.500 sqm. The project will be executed in phases, with the first to comprise about 11.700 sqm (66 shops). The project is being discussed with several potential tenants, who have all shown a great interest. The Construction of the first phase is expected to start in spring/autumn 2012, with the opening scheduled for spring/autumn 2013.