Colliers draft plans for EUR 500 million stadium center

The cost of the project has been placed at a maximum of EUR 500 million. "We want to construct a conference center for 12-15,000 persons and stadium to accommodate 45,000 spectators," said Alex Kloszewski, head of hotels division at Colliers and managing director of WDA. He went on to say that the final project will be presented by 15 February. "The feasibility study will take 6-7 months, while 12 months will be designated for preparing the financing," said Kloszewski. In his opinion the best organizational form would be a joint stock company, in which the city of Warsaw would hold a 35% stake. "The company would sign leasing contracts and would be responsible for repaying liabilities resulting from bonds," said Kloszewski. The undertaking would be financed from bonds issued by the city, while some of the costs would also be covered by local governments, as well as EU funds. (Puls Biznesu, pp. 1, 8) M.M.