BBI Development: Warsaw shopping centre close to launch date

2010-02-07

BBI Development (BBID) is joining forces with an investor – the company Liebrecht & Wood (L&W) – to build a shopping-office centre on Warsaw's Plac Unii Lubelskiej.
BBID is finalising the formalities concerned with L&W's planned entry into a special purpose vehicle (Nowy Plac Unii), which will be responsible for building the undertaking. The final investment contract is to be signed in March this year. In exchange for roughly 50% of the shares in the special purpose company, L&W will contribute PLN 80-90m (€19-22m) in capital. The construction work itself is scheduled to get underway in H2 2010.

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