Echo Investment has concluded a credit agreement with a value of EUR 15.3 mln with Nordea Bank Polska SA. The acquired funds will be earmarked for the development of Galeria Olimpia in Bełchatów.

“I am happy that Nordea Bank is continuing its cooperation with the Echo Investment Group with regard to financing our projects. After the Oxygen office building in Szczecin, Nordea has granted us a credit for the development of another commercial project – Galeria Olimpia in Bełchatów, confirming at the same time its confidence in the locations and quality of Echo projects. I hope that we will continue our cooperation in future developments,” says Grzeogrz Iwański, Director of the Funding Department in Echo Investment. Construction of Galeria Olimpia is progressing according to schedule. “We have chosen the general contractor, Polimex-Mostostal SA, we have secured the funding for the project. The commercialization of large and medium retail spaces has finished. The only areas still available in the facility are those earmarked for small shops and service outlets. Nine months before its opening the facility is over 80-pct leased,” says Marcin Materny, Director of the Shopping Centre Department in Echo Investment. ..................................
Galeria Olimpia is being built in the area of Armii Krajowej and Kolejowa Streets in Bełchatów on a plot neighbouring the Echo shopping centre, which has been operating on the market for over 11 years. Galeria Olimpia and the neighbouring Echo shopping centre will create a functionally connected retail and service complex with a gross leasable area of 32,200 sqm. It will include three hypermarkets: Tesco as well as Carrefour and Nomi, which have been operating in the Echo shopping centre. A multi-screen cinema of Helios, the biggest cinema chain in Poland, will also be opened. The shopping centre will offer a total of 90 shops, including: H&M, Reserved, House, Mohito, Cropp, New Yorker, Orsay, Martes Sport, RTV Euro AGD, CCC, Deichmann and Rossmann. Its underground and ground-level parking garages will offer a total of 1,050 parking spaces. The general contractor of the facility is Polimex-Mostostal SA. The construction work started in June 2011 and the opening of Galeria Olimpia is to take place in Q3 2012. The design of the facility was created in the MOFO Architekci architectural studio.
www.galeriaolimpia.com.pl