S+B to develop new scheme in place of Universal

S+B Gruppe, the owner of Universal building located on Aleje Jerozolimskie in Warsaw is planning to construct new real estate in the area around the investment, a press release read. Austrian S+B acquired Universal at the end of last year. PKP BP, the owner of Rotunda, which neighbors Universal said previously it will renovate the building. S+B, alongside Commerz Real Investmentgesellschaft, will develop a new retail and office budiling replacing Universal and some infrastructural projects in the area, which is to be planted with trees. First drafts have been already submitted to certain municipial institutions, the press release also read.