Echo Investment : registers almost 60-pct growth of apartment sales

05-01-2017

Echo Investment registers almost 60-pct growth of apartment sales

Echo Investment sold 925 apartments in 2016, which is 334 units more compared to 2015. The company strives for market leadership and starts the construction of about 1,500 apartments in 2017.

The new strategy adopted in mid-2016 states that Echo Investment will achieve the dominant position in all real estate sectors which it operates in. The first effects of the mobilization can already be observed in the residential sector.

'We sold almost 60 pct more apartments than in 2015 and twice as many as in 2014. The company is halfway to becoming the leader of the Polish residential market. We believe in a great potential of this market, that's why in 2017 we are going to extend our offer to 1,500 more apartments in 12 projects', says Dariusz Cholewa, Director of Residential Department, Echo Investment.

Currently the company has 13 projects under construction, which include over 1500 apartments in total. Its current offer amounts to 820 units. Moreover, negotiations concerning the purchase of plots in a few cities, where app. 3,000 apartments could be built, are in progress.

'It was a record year in terms of apartments' sales for Polish developers. We expect that 2017 will also be a very good year, particularly for big companies having a reputable brand as well as a high organizational and financial potential, like Echo Investment. Thanks to extending our land bank we will have an opportunity to increase our sales volume and strengthen our market position in the most attractive cities,' adds Dariusz Cholewa.

Last year Echo Investment provided its clients with keys to 451 apartments, which will be reflected in its financial results. They are mostly units in the projects completed in 2016, such as Park Sowińskiego I and Osiedle Jaśminowe II in Poznań, Park Avenue Apartments in Kraków as well as Nowy Mokotów II in Warsaw. Compared to 2015, when 400 apartments were delivered to clients, a dynamics of 13 pct is observed. In 2017 Echo Investment is to complete 10 projects including a total of 1,021 housing units.