BBI will carry out office building

Subsidiaries of BBI Development have signed an investment contract with the Liebrecht&WooD group concerning construction of the "Roma Tower" office building at 51 Nowogrodzka Street in Warsaw (near Emilii Plater Street). The agreement concerns the establishing of the "Nowa" purpose-oriented company, to which Liebrecht&WooD is going to bring in a contribution of approx. 207 million PLN. Let us recall that this year in April, we reported that an entity associated with BBI Development and the Warsaw Archdiocese was obtaining construction permits for a complex with an area of approx. 77,000 sqm, where over 60,000 sqm is going to be taken up by office and service space, and over 17,000 sqm by a six-level underground parking garage for 340 vehicles. In 2011, we also reported that Realty 4 Management Projekt Deweloperski 7, a subsidiary of BBI Development, had signed a preliminary agreement concerning the enterprise with the Warsaw Archdiocese, which pledged to bring in a property used by the St. Barbara Roman Catholic Parish. The concept works have been entrusted to Juvenes. ■

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