Belgium's Liebrecht & Wood is joining forces with Polish real estate builder BBI Development to construct a new 90-metre high skyscraper in the Polish capital. The two business partners said they are planning to invest a total of around PLN 155 mln (EUR 40 mln) in the construction of the Plac Unii mixed-use scheme, which was designed by architect Stefan Kurylowicz.

Belgium's Liebrecht & Wood is joining forces with Polish real estate builder BBI Development to construct a new 90-metre high skyscraper in the Polish capital. The two business partners said they are planning to invest a total of around PLN 155 mln (EUR 40 mln) in the construction of the Plac Unii mixed-use scheme, which was designed by architect Stefan Kurylowicz.

Liebrecht & Wood is acquiring part of BBI's share in the project for PLN 12.5 mln and has committed to invest a further PLN 80-90 mln in the contruction of the development project.

The company started negotiations with BBI Development to acquire the complex in 2009, with a preliminary agreement being signed in July last year. Under the final accord reached last week, Liebrecht & Wood is purchasing a 60% share in the project with BBI retaining the remaining stake.

With construction due to start later this year, Plac Unii will consist of a 90-metre high tower comprising a shopping gallery of 16,000 m2 and an office centre with over 40,000 m2 of space. The companies have appointed Jones Lang LaSalle to market the retail and office part of the scheme.

'Right now we are negotiating with general contractors and the construction works will start soon,' said Marc Lebbe, managing director of Liebrecht & Wood. 'We are convinced that this is one of the most interesting office and commercial projects currently being developed in Warsaw'.