Leading investors behind new Warsaw trade center

A consortium of Italian companies announced plans to begin the construction of a new exhibition and fair center in Warsaw's Bielany. The initiator of the project is Lucchini, which already owns around 100 hectares of unused land around its steelmill in the district. The investment will cover an area of 300,000 square meters, with construction scheduled to commence in spring next year. VeronaFiere, the third largest Italian fair organizer, will be the major shareholder in the company which will manage and promote future events. "One of the financial partners is UniCredito Italiano. The investors are in negotiations with other partners, including two foreign hotels networks present in Poland," said an informer close to the deal. The value of the fair center, without ancillary buildings, amounts to around EUR 90 million. Annual revenues for investors from the new center have been projected at EUR 30 million, while income for all companies connected to the center are to reach even up to EUR 300 million. This investment is designed to become a serious competitor for the prestigious International Poznań Fair. (Puls Biznesu, pp. 1, 4) A.K.