ARTICLES LABELLED WITH TAG Resi4Rent

Over PLN 70 million of net profit, increasing assets value, in particular in the residential sector, as well as decreased debt level – this is a brief summary of Q3 2021 results in Echo Investment Group. The group is satisfied with the pace of Resi4Rent development and a large landbank, that allows building ca. 15,000 apartments.

The third quarter of 2021 and the beginning of the next quarter is a period of historic changes in the Polish real estate market, which will not be without impact on consumers' housing plans, says Resi4Rent.

Echo Investment summarizes the first half of 2021, taking into account the results of the Archicom S.A. group for the first time. The first six months of 2021 brought the Group over PLN 47 million in net profit, which was mainly the result of handing over to customers 398 apartments built by Echo Investment, as well as 202 apartments of Archicom and an increase in the value of office buildings – in particular Malthouse Offices in Warsaw Breweries and Brain Park I in Cracow. Important item that influenced the results for the first half of the year and the second quarter was the profit on purchase price allocation of Archicom S.A. shares.

The construction of the Resi4Rent project in Poznań has been completed. Less than two weeks after obtaining a use permit, 30 rental contracts have already been signed.

A consortium of banks, with Pekao Bank as a leader, Bank Gospodarstwa Krajowego and BNP Paribas Bank, granted over PLN 248 million in a construction and investment loan and PLN 15 million in a VAT loan for five Resi4Rent projects with apartments for rent.

Resi4Rent opens its seventh building, this time in the north of the country. The first clients have already moved into 301 new premises at Kołobrzeska Street in Gdańsk. This is another step towards the company's goal of building a portfolio of 10 thousand apartments by 2025.

A newly opened project at Taśmowa Street with over 370 apartments joins Resi4Rent buildings in Warsaw Brewery and at Suwak Street.

Resi4Rent, the largest private company with subscription-based apartments, has expanded its offer by nearly 230 units in Warsaw. The first residents have just moved into the project located in the heart of Mokotów business district.