ARTICLES LABELLED WITH TAG Echo Investment

Echo Investment and AFI Europe presented their new, refreshed project of a large mixed-use investment in the very centre of Warsaw, in a quarter bounded by the streets of Towarowa, Pańska and Miedziana. In this location, offices and apartments for sale and rent are to be created as well as restaurants and service outlet units. The remaining industrial infrastructure in Wola is to be integrated into the Słowa Polskiego public park. 

Six office buildings sold, another five buildings with occupancy permits, nearly 45,000 sqm of offices leased, the development of the food & beverage segment and the strengthening of the diverse offer of Libero Katowice and Galeria Młociny - these are the developer's key commercial sector successes in 2022.

A JV of Investika – a Czech retail investment fund, and Bud Holdings – a Luxembourg-based private equity company, became the new owner of the entire Face2Face Business Campus in Katowice. Echo Investment signed a sale agreement for the complex comprising two office buildings. The agreed price is about €110 million.

Institutional investors have subscribed to bonds of Echo Investment with a total value of PLN 180 million (€38.4 million). The developer will use the funds raised to redeem existing bonds and strengthen the company's leadership position in the Polish real estate market.

Handing over 1,650 apartments for sale and rent to customers, maintaining 100% of the lease level in all completed Resi4Rent buildings, increasing the turnover of Libero in Katowice and Galeria Młociny in Warsaw – this is a summary of the Echo-Archicom Group's operating activities in three quarters of 2022. During this time, the Group generated PLN 125 million in net profit.

Preferences and housing needs of Poles and what they would like to change in their own place were studied by Echo Investment. The first edition of the report "There's no place like home, or how Poles live," analyzes, among other things, what our requirements are when it comes to our own four walls, what motivates us when we buy an apartment, and whether we purchase it mainly for our own needs or as an investment. The report proves that in Poland owning one' s own apartment is still identified with being independent.

The sale of office buildings, the increase in the assets’ value and the preparatory works for the next "destination" projects are the highlights of the financial results of Echo Investment for H1 2022. 

MidPoint71, an office building in Wrocław, was acquired by Trigea Real Estate Fund, the fastest-growing Czech fund. The project of Echo Investment, which obtained the occupancy permit earlier this year, was sold for over €100 million. In another deal, three office buildings in Fuzja Łódź project were acquired by KGAL Group, an independent investment and asset manager, for over €56 million.

Net profit of PLN 51 million, an increase in the value of office projects under construction and handing over to customers 399 apartments – this is a brief summary of Q1 2022 results of Echo Investment Group. The developer also published its second sustainability report where it summarised last year's achievements and results in the areas of environmental, social and corporate governance.

Echo Investment has had another successful year. The obtained net profit of PLN 189 million mainly results from handing over to customers 1,622 apartments built by Echo Investment, as well as 1,128 apartments of Archicom, an increase in the value of office buildings and stronger performance of the Libero shopping centre.