Bank Gospodarstwa Krajowego will finance revitalization of Koszyki Hall

Koszyki Hall
Signing of the agreement for financing of Koszyki Hall project
The agreement for financing of Koszyki Hall was signed today, by virtue of which Bank Gospodarstwa Krajowego will finance revitalization of historical buildings together with development of the surrounding area.

The investment will be the first project in Mazovia which was developed within Polish Investments Programme, which is financed from JESSICA Initiative means. The worth of it totals ca. 81 million euro. It will be covered by: BGK commercial credit with the worth of 60, 84 million euro, JESSICA loan amounting to 25 million zlotys granted by Regional Operational Programme of Mazovian Voivodship on 2007-2013 and revolving/working capital VAT credit which totals 13 million zlotys.

The agreement of financing was signed in seat of the bank by Piotr Lasecki, vice-chairman of Zarząd Gospodarstwa Krajowego board and Przemysław Krych, chairman of Griffin Group board. We are pleased that means of JESSICA initiative, the operator of which we are, co-finance the project in the very heart of Warsaw. A modern structure together with developed urban space will be built – said Piotr Lasecki during the celebration. – It is also a fundamental reason for which we made the decision about financing the investment from a commercial bank credit within Polish Investments Programme – added.

The signing of agreement for financing was the last requirement necessary to meet in order to start the building, on which Warsaw authorities gave a permit in August of the current year. The project’s general contractor is Erbud company.

The investment envisages a thorough revitalization of Koszyki Hall and its surrounding area. Within project, two existing gate annexes, historical gate and administrative building together with restoration of the Hall’s main building will be kept and renovated. Moreover, three offices class A will be built on the space which surrounds the Hall. On the area of the complex, few public squares will be located and part of the space will be occupied by non-profit organizations. The complex will offer jointly 21 000 sq. m of office as well as service and commercial space.

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