New stadium to be built in Warsaw on existing market site

At the moment, the site is a huge and prosperous marketplace providing jobs for tens of thousands of people, and giving zł.2 million in rent a month to Warsaw's budget. An architectural design by the Kurylowicz and Associates has been initially approved. Colliers International, a real estate agency, wants to be the architect's partner in the investment and recommends establishing a joint-stock company with a 35% stake going to Warsaw authorities. The facility would cost EUR 820 million and  according to Colliers International would bring EUR 35-40 million a year in revenues, while the economy of the city as well as the hotel sector would get EUR 300 million. Damis Group, which has been running the marketplace, proposes to build a trade, entertainment and exhibition center together with a stadium. They claim that roughly 2000 traders from "Stadion Dziesięciolecia" have already declared to invest zł.100,000 each. If Poland is not chosen to organize the 2012 World Cup, the investment could be built gradually and financed by the traders alone, promises Bogdan Tomaszewski, the chairman of Damis. (Puls Biznesu, p. 1, 6) J.L.