TK Development has bought a plot of land in Jelenia Góra and has an option on additional land for the development of a shopping centre of about 24,000 m². The project will comprise a supermarket of about 2,200 m² and retail, restaurant and service premises totalling about 21,800 m². The local plan for the area is in place and the letting of premises has started. Construction is expected to start in late 2013, with the opening scheduled for late 2015. In December 2012 70 % of the project was handed over to Heitman, and in this connection the Group’s 30 % ownership interest was classified under “Investment properties under construction”. TK Development will receive fee income from the jointly owned company established for developing, letting and managing the construction of the project.