Warsaw city center to get major facelift with Zlote Tarasy

Next week construction companies will present offers to build Zlote Tarasy, the multifunction commercial-entertainment-office complex in Warsaw. This will be one of the biggest real estate investments ever made in the capital. The complex will have a total area of 200,000 square meters and be built in the city center, between the Central Railway Station and the Holiday Inn hotel. According to Puls Biznesu, the investment will cost $250 million and it is possible, if tender deadlines are met, that construction could start as early as next month. "The investor should be chosen by the end of June," said Jerzy Hanczewski, deputy president of ING Real Estate, the company acting as project investor with the Rodamco company. Although the general contractor is not yet known, it is believed that concerns such as Skanska, Hochtief, Warbud and PIA Piasecki, are all seeking to get involved. The project is expected to take about three years to complete, and is scheduled to end in the third quarter of 2005. (Puls Biznesu, p. 3) M.T.