The ‘Polish Your Retail’ thematic session concerning the Polish commercial real estate market took place during the International MAPIC fair in Cannes, France. It was organized by Echo Investment and BNP Paribas Real Estate in cooperation with the Polish Council of Shopping Centres.

One of its participants was Marcin Materny, director of Echo Investment"s Shopping Centre Department. During the session a lot of time was devoted to the extensions and revitalization of shopping centres. “As a seasoned developer we have a lot of experience in extension of well-functioning shopping centres. The best example is Galeria Echo, which originally had GLA of 25,000 sqm and it now has 70,000 sqm after its extension. The strategy is not only a response to competitors" activities but also a way to increase the value of these projects. Extension has its assets but it also involves some difficulties because it is carried out while the facility operates normally. All this is connected with some costs, logistics and problems. On the other hand, the investment risk is much lower because we have a proven location, we know clients" expectations and we have all the data. Banks also approach financing such projects more favourably compared to completely new projects,” said Marcin Materny. The discussion can be viewed on YouTube Echo Investment.