Catholic Church to build skyscraper in Warsaw

The Warsaw curia has received the Vatican's approval to make a transfer of land in kind to a joint-venture established with real estate developer BBI Development in order to build a 170-meter high skyscraper in Warsaw's city center, dubbed Roma Tower. BBI's contribution in cash amounts to PLN 21 million, while the value of the land is estimated at PLN 34.6 million. The Church will have a 55 percent stake in the entity and BBI Development the remaining 45 percent. The building's architectural sketch has been approved by the city council.