Echo Investment was awarded as “Real Estate Investor of the Year” by Warsaw Business Journal, one of the leading Polish business newspapers when it has ranked the most important market events of last year.
The jury, formed by real estate professionals explained that it was not just the biggest business transaction in Poland, but also the biggest in the whole Central Eastern European region when Echo signed a financing agreement last year with Eurohypo Bank concerning the project “Galeria Echo”, a shopping- and entertainment centre in Kielce. The total value of all real estate owned by the group – of which Hungarian subsidiary won the international bid for the development of the new Zugló city center “Mundo” in 2006 – rose by 5.5% during the last business year.
“The value of all real estate owned by Echo rose by 5.5% last year, now totalling more than €1 billion. This strong financial and professional background guarantees that the quality of the development project that we won by the international bid would be very high” – commented project manager Ahmet Cetin concerning the recently received award.
The real estate professionals in the jury based their decision mainly on the fact that during the current economic and financial circumstances it was Echo Investment that managed the biggest transaction in the whole Central Eastern European region in 2009 by signing the €100 million financing agreement with Eurohypo Bank for “Galeria Echo”, a shopping- and entertainment centre project in Kielce. (press release)