Echo Investment has concluded a credit agreement worth EUR 14.35 mln with Raiffeisen Bank Polska S.A. The funds acquired in this way will be earmarked for the development of Galeria Veneda in Łomża.

“It is our latest project financed by Raiffeisen Bank Polska S.A. and at the same time a confirmation of the good quality of this project. I am happy that the bank has appreciated the potential of this project, which is being built in a well developing small urban area,” says Grzegorz Iwański, Director of the Funding Department at Echo Investment.

Galeria Veneda is being developed in Łomża, at the junction of Zawadzka and Sikorskiego streets. “The location of the facility is in fact ideal. It is the inner centre of the town, an area which is very well connected with other districts and characterized by an easy access to exit roads,” emphasizes Marcin Materny, Director of the Shopping Centre Department at Echo Investment.

The construction of the facility is progressing according to schedule. Preparation work has been finished, all the obstructions on the plot have been removed while work on the foundations and activities connected with the reinforced structure of the bottom floor are pending. A technical infrastructure network is being developed at the same time. The general contractor of the facility is Instal Białystok.

Veneda will be the biggest shopping centre in the region. It will have a total area of 40,000 sqm, of which nearly 16,000 sqm will be leasable. The centre will include 80 shops and service outlets. The facility is 75% leased at this point (its tenants include: Tesco Extra, RTV Euro AGD, Reserved, CCC, Rossmann, House, Cropp, Mohito, Orsay, Martes Sport, Grycan, Apteka Pod Różą, Pretty Girl, Zabawkowy Raj, Czas na Herbatę, Pralnia Biała Róża, Top Press, Gatta, Orange, Cafe Club, Swiss, Play and Kwiatoteka). The project has a car park offering 600 parking spaces.

The completion of the construction work is planned for November 2012. The architectural design of Galeria Veneda was created in the Mąka Sojka Architekci architectural studio of Warsaw in cooperation with Echo Investment’s team of architects.