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Realization of Roma Tower comes to a close

Roma Tower, pic BBI Development
Roma Tower, pic BBI Development
Management Board in BBI Development informed that a special-purpose company obtained a right of perpetual usufruct and interest in the right of ownership concerning properties located at Emilia Plater and Nowogrodzka Streets in Warsaw, where the Roma Tower office is supposed to be realized.

Management Board in BBI Development informed that a special-purpose company obtained a right of perpetual usufruct and interest in the right of ownership concerning properties located at Emilia Plater and Nowogrodzka Streets in Warsaw, where the Roma Tower office is supposed to be realized.

 

According to the announcement of BBI, an annex to the investment agreement concluded in December 2011 was signed in September this year. The change concerns new limited partners who joined the PW company, that is the Archdiocese of Warsaw and the Saint Barbara Roman Catholic, as well as increase in financial input made by another subsidiary of BBI – PD7 – which will amount to 2 million zlotys and 19 million zlotys as a target. Moreover, PD7 will be responsible for management of the structure, architectural works and services in the area of financial management.

 

The Archdiocese made a cash contribution in the amount of 10 000 zlotys whereas the Parish made a non-cash contribution in the amount of 34.6 million zlotys, which includes rights of perpetual usufruct and interest in the right of ownership concerning the area at Emilia Plater and Nowogrodzka Streets as well as structures located on it.

 

The result of conducted changes is capital share, profit-sharing and liquidation share at the level of nearly 55 per cent for the ecclesiastical party and over 45 per cent for subsidiaries of BBI. As it was mentioned in the announcement, the current events resulted in gaining an interest in Roma Tower by Grupa Kapitałowa Emitenta. It was crucial in the process which is aimed at commencement concerning realization of this important project.

 


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