Złota 44

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Złota 44
2014-02-21 Libeskind’s Złota 44 in Warsaw.jpg
General information
Status Topped-out
Location Złota, Warsaw, Poland
Construction started 2007
Completed 2014
Height
Roof 192 m (630 ft)
Technical details
Floor count 54
Design and construction
Architect Daniel Libeskind
Developer Orco Property Group

Złota 44 is a mainly residential skyscraper (192 meters high, 54 storeys) under construction in central Warsaw, Poland. It was designed by the Polish-born American architect Daniel Libeskind in association with Polish architects Artchitecture. It is developed by Orco Property Group.

Construction began in the 4th quarter of 2007 following the dismantling of the building that previously occupied the site. Due to the developer's financial problems and problems with permits, construction was put on hold in 2009, but resumed in January 2011.[1] On February 3, 2012 the building was topped out.[2]

The name comes from the building's pre-war address (completely destroyed by Nazi Germans during the WWII) - Złota ("Golden") Street. It is next to the Palace of Culture and Science, the tallest building in Poland (237 m) and Złote Tarasy. When completed, Zlota 44 will be Warsaw's third tallest skyscraper.

In December 2013, Orco fired the general contractor company Inso prior to completion.[3]

As of the end of 2013, the building has been considered a commercial failure. Orco company officially announced that the building has lost at least 0.5 billion PLN of its value. The company went on to announce its intention to sell it as fast as possible. One of the banks (according to wyborcza.biz newspaper probably Pekao) terminated its contract and wants the loan refunded (250 million of PLN).

The developer also says that the high flat rates (65 000 złotych per square meter, one of the highest if not the highest in Poland) were unfounded and were created for no reason other than to achieve more hype in the media.[4]

On 28 VIII 2014 sale was confirmed, building was sold for 260 millions złotych(despite building cost estimated at 700 millions złotych). At least about 80% of flats remain unsold, and according to group data it is the worst investment in their history(officially because of the very low number of flats sold). [5]


References[edit]

  1. ^ "Orco to resume Warsaw apartment project Zlota 44 in January 2011". 
  2. ^ "Wiecha i fajerwerki na Złotej 44" (in Polish). 2012-02-03. Retrieved 2012-04-14. 
  3. ^ Matusiak, Wojciech; Michael Wojtczuk (2012-12-17). "The trouble Orco group. What about the "glass sail" in Warsaw? (Google translation)". Wyborcza.pl (in Polish) (Wyborcza.pl). Retrieved 2014-01-14. ""In December the contractor terminated the contract with the contractor skyscraper, the Italian company Inso." via Google Translate" 
  4. ^ http://www.biztok.pl/biznes/fiasko-flagowej-inwestycji-musza-oddac-250-milionow-w-miesiac_a15854
  5. ^ http://wiadomosci.wp.pl/kat,1019393,title,Zagiel-Zlota-44-sprzedany-Inwestor-stracil-miliony,wid,16843196,wiadomosc.html

External links[edit]

Coordinates: 52°13′52″N 21°0′9″E / 52.23111°N 21.00250°E / 52.23111; 21.00250