Green light for the Roma Tower skyscraper
BBI Development S.A. will be able to start the construction of Roma Tower, a 170‑meter high‑rise building in the centre of Warsaw. Thanks to the approval of Vatican, the developer acquired the right of perpetual usufruct of the plot where the skyscraper is to be erected, and a share in the property rights. Whereas the Archdiocese of Warsaw will enjoy the majority stake in the investment.
The skyscraper will be situated at the junction of Emilii Plater and Nowogrodzka Streets, on land owned by the Archdiocese of Warsaw and the Saint Barbara parish. Apart from the excellent location in the very heart of Warsaw, the investment is distinguished by a unique design – developed by Juvenes‑Projekt, and by the highest quality of architecture. With a total area of about 55 thousand sq. m, the tower will house A‑class office space. It is possible that, besides office functions, the building will also serve other purposes. The investor is keen on adjusting the skyscraper to market needs.
– To us, the positive feedback from the Holy See means very important and long awaited news because it closes one of the two key stages of the project. Now, we will be looking most forward to the entry into force of the local zoning plan for the southern part of the downtown area, which will allow for building the tower in accordance with our assumptions, – said Michał Skotnicki, President of BBI Development S.A.
The Archdiocese contributed land valued at PLN 34.6 million, plus PLN 10 thousand in cash. Whereas BBI Development will allocate through its affiliated companies PLN 19 million for the project, and will also ensure comprehensive services in terms of managing the development project, as well as architectural works and financial management services. The agreement stipulates that 55% of all profits connected with the envisaged office building will be earned by the Archdiocese and 45% – by BBI Development S.A.
The construction works are to start in the first quarter of the next year and end in late 2018.
Roma Tower will constitute yet another skyscraper located around the downtown area in the portfolio of BBI Development S.A., and will provide a perfect addition to Warsaw’s skyline. In collaboration with the American investment fund Amstar, the developer is finalising ZŁOTA 44, a prestigious tower designed by the world‑class architect Daniel Libeskind, which will offer 287 luxury apartments with complete finishing.