Echo Investment has concluded a credit agreement with a value of EUR 18 mln with the PKO BP bank. The acquired funds will be allocated to the development of Outlet Park Szczecin - the first outlet centre in the West Pomeranian region.

“It is our first credit signed with PKO BP which finances a commercial project. Both parties are very satisfied with the contract. It is worth emphasizing that it is also one of the first credits in this bank based on the market value of a project” says Grzegorz Iwański, director of the funding department at Echo Investment.

The development of Outlet Park Szczecin is progressing according to schedule. “We have chosen the general contractor, Polimex-Mostostal SA, and the project financing has been secured. It is very good news. The commercialization process is going very well. Negotiations are pending with companies interested in the lease” says Marcin Materny, director of the shopping centre department at Echo Investment.

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Outlet Park Szczecin is being developed in Szczecin’s Prawobrzeże district, at the site of an operating shopping centre located on ul. Struga, which is owned by Echo Investment.

Tenants of the facility include such brands as: Reserved, Rebook, Adidas, Puma, House, Lee Wrangler, Atlantic, VIP, Wittchen, Bytom, Vero Moda, Jack & Jones, Ochnik, Coffeeheaven, Wójcik, McArthur, Kazar, Lancerto, Willsoor Group, Lavard, Lee Cooper and Puere.

The development of Outlet Park Szczecin is carried out in two stages. The first stage, which has already started, includes a shopping mall with 70 retail outlets, a multi-screen Helios cinema, a ‘Piotr i Paweł’ supermarket and an electronics shop. Its completion is planned for H1 2012. Work connected with the second stage, which is to comprise approx. 60 shops, is to start a year after the opening of the first one at the earliest.

The gross leasable area of Outlet Park Szczecin amounts to over 24,000 sqm. Customers will have 1,400 parking spaces at their disposal. The architectural concept of the facility has been created at the Vsf - Creative architectural studio while the replacement construction design has been prepared by STUDIO A4 of Szczecin.