Echo Investment plans 56 new projects of a value exceeding €1.2 billion (PL)

Echo Investment plans to construct 13 commercial centers, 16 office buildings, 26 residential projects and a hotel - this is a list of projects which the company Echo Investment intends to realize in the years 2010-2015. The total area of these planned project equals approximately 1.2 million m² and planned expenditures for their realization exceed €1.2 billion. The company's plans assume active development in all sectors of previous activity and consolidation of its position on Polish real property market.

According to Piotr Gromniak, president of the Management Board of Echo Investment, the main target of the company is securing a long-term growth of its value. "The company intends to reach this aim by further extending and raising of quality of commercial properties' portfolio - offices and commercial centers - intended for lease. Developer's activity on the residential project's market and increasing of involvement in this real estate sector shall be equally important."

The company, concentrating on the Polish market, shall also develop in countries of Middle and Eastern Europe. At present Echo Investment owns investment sites for construction of commercial centers in Budapest and in Brasov, Romania and also a property in Kiev, where an office park shall be erected. The capital of Ukraine seems at present the most promising market with the biggest potential for the sector of commercial real estate.

In years 2010-2014 Echo plans to begin 15 office project of the total leasable area of approximately 260,000 m². In years 2010-2015 19 projects shall be handed over for use (the accomplishment of four of them - in Krakow, Szczecin, Poznan and Warsaw - is just coming to an end) of the total area of approximately 310,000 m². New office buildings shall be erected in Warsaw, Cracow, Poznan, Wrocùaw, Gdañsk, Szczecin, Ùódê, Katowice and Kiev.

In 2010 realization of two office projects shall begin (Malta Office Park IIIrd phase in Poznan and Aurus Ist phase in Ùódê) of the total leasable area equaling approximately 16,100 m². In that time four projects shall be handed over for use (Malta Office IInd phase, Park Postæpu in Warsaw, Avatar in Cracow and Oxygen in Szczecin) of the total area of approximately 41,600 m².

In the pipeline there is realization of Novotel hotel in Ùódê for the Orbis Group (approximately 7,000 m².)The commencement of the construction is planned in 2010 and its conclusion – in 2012.

Until 2015 Echo plans to accomplish 13 commercial project of the area equaling approximately 415,000 m². Eleven of them shall be constructed in Poland: in Sùupsk, Szczecin, Koszalin, Poznan, Ùomýa, Beùchatów, Wrocùaw, Kalisz, Jelenia Góra, Katowice and Kielce and two shall be erected abroad: in Budapest and in Brasov, Romania.

At present the extension of Galeria Echo in Kielce is in progress, which shall in its final shape have 68,000 m² of leasable area. Moreover in 2010 the construction of Astra commercial center in Szczecin shall be launched, of the area of 17,000 m². In 2011 the commencement of two foreign projects is planned: Mundo in Budapest ( 35,700 m² and Korona in Brasov (38,900 m²). Both projects shall be finished in 2013.

In years 2010-2013 the company plans to launch 25 residential projects containing 2,200 apartments of the total area of approximately 150,000 m² of usable-residential area and 229 plots for single-family houses of the area of 226,800 m². Projects shall be realized in Warsaw, Cracow, Poznan, Wrocùaw, Ùódê and Kielce.

Already in 2010 the realization of 11 residential projects shall begin and the offer shall comprise almost 800 apartments (of the total area for sale of approximately 60,000 m²) and 130 plots with awarded building permits.

In years 2011-2013 another 14 residential projects of the total area of 86,000 m². are planned for launching. Between 2011 and 2015 apartments of the total area exceeding 142,600 m² shall be handed over for use.

Echo plans purchase of plots for further projects. "All the time we analyze the market with respect to purchase of at

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