Michal Strnad builds 170 m Roma Tower skyscraper in Warsaw

The Czech Republic’s richest man, Michal Strnad, is entering the Polish property market: the investment group Akipia, which he founded with Tomáš Březobohatý and Marek Šmrha, has become the lead investor in the Warsaw skyscraper Roma Tower. The residential tower in the centre of the Polish capital will be 170 metres tall, and the total cost of the project reaches CZK 20 billion.

The group does not disclose how much exactly Akipia is investing in the project or what stake it receives. The developers call the building the most luxurious skyscraper in Poland. It will have 48 floors above ground and six below, and 357 premium apartments. Residents can look forward to a wellness area with a 25-metre pool and a private cinema, while the interiors will be designed by the Italian design studio Pininfarina. According to the developers, Roma Tower is also the first residential project in Poland with the highest, three-star Fitwel certification rating. This international system assesses how buildings support residents’ health and takes into account, among other things, access to daylight and the quality of air and water.

“Building a new landmark for Warsaw fully fits our group’s investment strategy. Our goal is to take part in projects of exceptional value that will outlive generations,” says Marek Šmrha, managing partner and one of the three founders of Akipia. The project is being developed by the Polish developers Liebrecht & wooD and BBI Development together with the Pro Bonum Foundation. “We have several years of demanding work ahead of us,” adds Michał Skotnicki, head of BBI Development.

Who is behind Akipia. The group was founded by Strnad, the owner of the defence holding CSG, together with two close associates. Tomáš Březobohatý previously worked closely with PPF founder Petr Kellner, and today, as an adviser, helps Strnad set CSG’s future course. Šmrha was previously investment director at Penta. The group operates separately from CSG and, by its own description, is not limited to a particular sector. The only exception is the defence industry. It seeks opportunities both on its own and together with other investors.

A fast start. Akipia’s first announced investment in August was its entry into the development of Prague’s Bubny: the group acquired a 35% stake in the company that owns the key plots. The lead developer of the area between the Vltavská and Nádraží Holešovice metro stations is Penta Real Estate with a 50% stake, and J&T holds another 15%. By 2050 up to ten thousand apartments could be built there, and Penta estimates the total costs could reach CZK 90 billion.

The Akipia team also took part in the July deal in which, through the investment company Lumina Crown, it acquired about 14% of the Italian tyre maker Pirelli and became its third-largest shareholder. The Polish partners see the Czech group’s arrival as a signal for the local market too. According to Magdalena Bartkiewicz-Podobowa, head of Liebrecht & wooD’s Polish branch, the deal reflects growing interest from Central and Eastern European investors in Poland and the strength of Warsaw as an investment destination.

What next. Roma Tower already has a building permit, and construction is planned to start this autumn. The investors also intend to improve the surrounding area: reconstructing Emilii Plater and Nowogrodzka streets with new pavements, cycle lanes and greenery, and, in later stages, restoring the Church of Saints Peter and Paul, St. Barbara’s Chapel, the Way of the Cross and the parish house. An official presentation of the project with final visualisations is scheduled for 2027, when apartment sales are also due to begin.