A large and attractive offer of apartments, recognizable and trusted brands, as well as good market conditions, made the last year perfect for Echo Investment and Archicom that joined its group in April. The sellers of both companies sold nearly 3,000 apartments. This is 16 percent more than the sales of both companies jointly in 2020. On top of that, Echo Investment contracted nearly 1,500 units for Resi4Rent, a PRS platform. The total result of 4,500 apartments sold guarantees the group a place among the largest players in Poland.
Through organic growth and the acquisition of Archicom, the Echo Investment Group has become one of the largest developers selling apartments in Poland. At the end of the third quarter of 2021, the entire group had approximately 120 residential projects under construction and preparation with a total usable area of 1 million sqm. Throughout the year, it began the construction and sale of premises in 17 projects, which increased the offer by almost 3,800 apartments both for sale and for rent. Thanks to the extensive offer and the trust enjoyed by both companies, last year ended with excellent sales results. Echo Investment sold 1,680 apartments in projects for sale, of which 406 in the fourth quarter alone. Moreover, the developer contracted and started construction of 1,497 units for rent to Resi4Rent, a PRS company in which Echo Investment has a 30 percent stake. Meanwhile, Archicom sellers in the entire 2021 signed 1,275 contracts with customers, 227 of which in the fourth quarter.
“Over the past five years, from the position of a company selling about 300 apartments per year, through organic growth and the purchase of Archicom, our group has become one of the largest residential developers in Poland. However, our ambitions do not end there. We want to take advantage of the favourable market conditions and win a growing part of the residential market while increasing margin. We are prepared for this. The land bank of both companies intended for housing projects allows for the construction of approx. 15,000 apartments in the coming years. We have the best specialists, many years of experience, as well as an excellent brand. We are convinced that this situation in the coming quarters will translate into an increase in scale and higher profitability of our projects,” comments Nicklas Lindberg, CEO of Echo Investment.
Since the beginning of 2021, Echo Investment has completed the construction of eight projects in Warsaw, Łódź, Poznań and Kraków. As a result, it was possible to hand over 1,622 apartments to customers, of which 1,006 in the fourth quarter alone. The consolidated result of the Echo Investment Group for 2021 will also include nearly 1,100 apartments handed over to Archicom’s clients. Additionally, Echo Investment handed over three completed projects to Resi4Rent, which resulted in 834 units enlarging the PRS platform’s offer.
Taking into account the segment of apartments for rent, in 2021 Echo Investment Group handed over the highest number of apartments in Poland. Resi4Rent currently has 2,300 finished apartments for rent and another 6,000 under construction and preparation. At the end of 2022, Resi4Rent will rent 3,700 apartments. By the end of 2024, the company will have 10,000 apartments on its offer.