Echo Investment has concluded a loan agreement with Bank Pekao SA worth EUR 35.64 mln and PLN 7 mln. The funds acquired will be used to continue the construction of Galeria Sudecka – the largest shopping and entertainment facility in Jelenia Góra region.

“It is not our first contract with Bank Pekao SA. We are happy to be able to work with our partner on another project, especially Galeria Sudecka in Jelenia Góra, which has been financed by the bank since 1999. The agreement signed confirms the location, the current operations and the quality of our project. I am convinced that our negotiations and the agreement signed will bear fruits in the form of our cooperation on further projects to be carried out by the Echo Investment group.” says Grzegorz Iwański, director of the Funding Department at Echo Investment. The construction of Galeria Sudecka is progressing according to schedule. The contractor of the shell of the building is Eiffage Polska Budownictwo SA. The stage involving the construction of the foundations and the underground car park is currently in progress. The extension of the road layout around Galeria Sudecka included the redeveloped of the high voltage line. The opening of Galeria Sudecka is planned for H2 2014. The facility is currently 70-pct commercialized. The investor has recently signed contracts with the Empik chain and Smyk. The next few contracts are planned to be signed in January 2014.    Galeria Sudecka is being developed in the Zabobrze district. It will be the first shopping and entertainment centre in the Jelenia Góra region. The centre is planned to include 100 shops, restaurants and service outlets, as well as a 7-screen Helios cinema with a cafe and bar area.The investor has planned a retail area of 45,000 sqm in the design of Galeria Sudecka. The first one to be built will be an arcade including shops, boutiques and service outlets as well as the first in town 7-screen Helios cinema. The final stage of Galeria Sudecka"s development will involve the construction of a retail park which will include a large-format DIY shop, among others. Customers will be able to use over 1,800 parking spaces. Tenants of Galeria Sudecka will include the shops of the LPP group (Reserved, House, Mohito, Cropp Town and Sinsay), which will occupy a combined area of 3,500 sqm, as well as GoSport which will have a shop with an area of 1,350 sqm. A hypermarket of the Real chain was opened in the Echo shopping centre in March this year. www.galeriasudecka.pl