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Steady results for Echo Investment

Anna Pakulniewicz 08 January 2019

Anna Pakulniewicz

Journalist

+48 22 356 25 07
anna@eurobuildcee.com

Ania covers the Baltic states’ real estate markets, architecture and urban planning in Warsaw as well as interior design. She is also the co-founder of Eurobuild TV. Among others, she has been employed by TVN CNBC, PAP Insider, WBJ (The Observer), Poland Monthly and IMM. She graduated from the Warsaw School of Economics, majoring in international relations. She has also completed postgraduate studies in macroeconomic analysis. In addition to this, she studied Lithuanian philology

Steady results for Echo Investment
Stage II of Reset project in Warsaw
POLAND Over 2018 Echo Investment sold 950 apartments and handed over 986 (which compares to 1427 sold and 1006 handed over for 2017).
Over Q4 2018 the company sold 270 apartments and handed over 545 compared to 331 sold and 610 handed over for the same period of the previous year.

“In 2019, we will put a further 1,500 premises on sale from large and attractive projects including the Ordona project in Warsaw, the Tymienieckiego project in Łódź, the Our Jeżyce project in Poznań and the Wita Stwosza project in Kraków. In comparison with 2018, we will expand the number of properties we have on sale by over 50 pct. Our new sales strategy of having 20 pct of the apartments on sale when a project is delivered is paying off with sustainable margins,” claims Nicklas Lindberg, the CEO of Echo Investment.

At the end of 2018 the number of residential premises on sale was increased 650 units from stage E of its Browary Warszawskie project and stage II of its Reset project both in Warsaw, as well as units from its Apartamenty Esencja project in Poznań and its Ogrody Graua project in Wrocław. Over this month a number of preliminary agreements are to be signed with those buyers who reserved their apartments last year. Looking ahead, Echo Investment continues buying new plots. Last year land in Kraków, Wrocław and Poznań was bought or secured, on which apartments with a useable area of 80,000 sqm could be developed.

“Our land acquisition team ended 2018 signing a preliminary agreement for a large plot of land in Kraków, where over 550 units could be developed for sale or for rent. We plan to start construction of the first phase of the project this year. In addition, the vast majority of the land that we are currently negotiating for, is also to be for residential development,” states Nicklas Lindberg.


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