The EBRD intends to provide a convertible debt facility to finance the design, construction and operation of an international standard 4-star hotel in the centre of Warsaw, Poland. The project aims to continue the development of the Atrium programme, one of the largest real estate projects in the region.
The project will further develop business infrastructure, and will facilitate technology transfer to the construction and hotel sector of the local economy.
Hotel Atrium Sp. zo.o, a limited liability company to be established in Poland by city of Warsaw and Atrium BV. Atrium BV is a Dutch limited liability company to be established by Skanska AB, Portman Holdings and Starwood Hotels and Resorts.
€12 million convertible loan.
€2.5 million subordinated loan.
The project has been classified B/0 requiring an environmental analysis of the proposed development. The project will comply with EU environmental standards. The following positive environmental features forms part of the programme:
- Construction will be undertaken in accordance with Polish, Swedish and EU worker health and safety legal requirements and standards. All applicable environmental permits will be received or applied for from the relevant authorities. The development will comply with all local fire, safety and emergency procedures. Sprinklers will be installed throughout according to authorities’ requirements;
- Energy conservation measures will form a major part of the project along with the provision of clean air filtration systems;
- Appropriate measures to reduce noise emissions, particularly from cooling plants, will be taken to ensure minimal noise disturbance to surrounding buildings and houses;
- No environmentally damaging materials or substances (asbestos, formaldehyde, ozone-depleting substances, oil-cooled transformers etc.) will be used in the construction;
- To meet high standards of environmental, health and safety and reduce environmental impacts during the construction phase, the project sponsor will adopt Skanska’s corporate policy and procedures. Noise and dust levels will be kept to a minimum level; and
- Public consultation will be conducted in accordance with national requirements.
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