Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Orco Jumps as Warsaw to Rule on Libeskind-Designed Tower Permit

Orco Property Group SA climbed the most in more than a week on speculation the developer will be allowed to resume its flagship Warsaw building project.

Orco jumped 4.1 percent to 196.8 koruna at 3:04 p.m. in Prague, heading for the biggest gain since Sept. 27. The project, intended to give Warsaw an architectural icon, was designed by Polish-born American Daniel Libeskind, who won the competition to rebuild the World Trade Center in New York.

“There may be some speculative trading going on” related to Orco’s Zlota 44 project, said Petr Bartek, a Prague-based analyst at Ceska Sporitelna AS. “The market generally expects the ruling to be positive for Orco.”

The governor of the Warsaw province will make a decision on the validity of the building permit today, Ivetta Bialy, a spokeswoman for the governor’s office, said by phone.

The project was stalled by the financial crisis and by protests from neighbors that led Polish authorities to suspend the permit. Today’s ruling will determine whether work can resume immediately.

Orco, which first received a final building permit for the site in 2008, originally planned to complete the 192-meter (630-foot) tower by the third quarter of this year.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.