On June 24, 2010 Echo Investment and Accor Polska signed the preliminary sales agreement concerning the plot of land located at the junction of the streets of Jana Pawła II and Grzybowska in Warsaw.

The agreement concerns the land with an area of nearly 3,300 sqm including the building, where the Mercure hotel is currently located, that is placed on the plot. The final contract is to be signed after a number of conditions are fulfilled by the parties.

“We are planning to develop a modern office skyscraper on the purchased land, with a height of approximately 155 metres and a leasable area of over 45,000 sqm. The facility will also include an underground car park for 400 cars. It will be one of the highest buildings in Warsaw, which will enrich the new and constantly changing centre of the capital both with regard to architecture and functionality.” says Waldemar Lesiak, Director of Office and Hotel Projects at Echo Investment.

The purchase value of the property amounts to EUR 31 mln.