January 09, 2019

Echo Investment sold 986 apartments in 2018 and handed over 950 premises to clients

Echo Investment sold 986 apartments in 2018 and handed over 950 premises to clients

December 2018 was the busiest and most successful month for residential department of Echo Investment, when 142 apartments was sold and 254 – handed over to clients. The full 2018 results are 950 apartments sold and 986 handed over, what will be reflected in financial results.

"We are one of the largest residential developers in the country and we look forward further strengthening our position. In 2019, we will add to our offer 1,500 premises in large and attractive projects, such as Ordona in Warsaw, Tymienieckiego in Łódź, Our Jeżyce in Poznań or Wita Stwosza in Krakow. Compared to 2018, we will expand our offer by over 50 percent. The new-applied sales strategy, according to which 20 percent of premises should still be on offer when a project ends, pays off with sustainable margins,” says Nicklas Lindberg, CEO of Echo Investment.

At the end of 2018 the residential offer was extended by 650 units in Warsaw Brewery E and Reset II in Warsaw, Apartamenty Esencja in Poznań and Ogrody Graua in Wrocław. In January the first reservations are transforming into preliminary agreements. Looking ahead, Echo Investment continues buying new plots. Last year lands in Kraków, Wrocław and Poznań, where approximately 80,000 sqm of apartments can be developed, was bought or secured.

"Our land acquisition team ended up 2018 with preliminary agreement for great plot of land in Kraków, where over 550 units for sale and for rent will be developed. We plan to start construction of the first phase this year. In addition, the vast majority of lands that we are currently negotiating, also are dedicated to be residential,” adds Nicklas Lindberg.

The attractiveness of apartments built by Echo Investment is a result of the fact that the company analysed widely social trends and responds to them quickly. The developer started the cooperation with suppliers of modern residential management solutions last year.

“Responding to clients’ needs, we equip every premises with the heart of the system for remote management of access, temperature, lighting and other functions. We also answer to new social and mobility needs of city dwellers by implementing ‘life-services’ in our projects. Those are projects that are fully integrated with a city, equipped with service functions and urban infrastructure. Those services will also increase attractiveness of our rental platform Resi4Rent, which will get up to scale in 2019 in our multifunctional, ‘destination’ projects,” says Waldemar Olbryk, Board Member of Echo Investment responsible for the residential sector.

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