Echo Group continues to strengthen its position in strategic sectors of the real estate market. In Q1 2025, the company maintained its target of selling 3,000 residential units annually, managed nearly 5,100 subscription-based apartments, and secured over €61 million refinancing for the Libero Katowice shopping centre.

In Q1 2025, Echo focused on reinforcing its diversified investment portfolio, including for-sale and subscription-based apartments, private student housing, and mixed-use projects.

“Strategic diversification allows us to flexibly respond to changing market demands and the evolving expectations of residents in major cities. In the residential segment, we plan to hand over a total of 2,300 units and sell another 3,000 this year. Meanwhile, our commercial properties remain fully leased and stand out with sustainable features that are attracting investor interest – potentially leading to new transactions later this year,” – said Nicklas Lindberg, CEO of the Group.

Progress in the living segment

Echo Investment continues to expand its Resi4Rent platform, responding to increasing urban mobility and demographic trends in Poland’s largest cities. With nearly 5,100 operational subscription apartments – the largest such portfolio in Poland – the Group is currently developing an additional 3,000 units, while over 700 are under sale.

In the meantime, the company is also advancing its StudentSpace concept in Kraków in partnership with Signal Capital Partners and Griffin Capital Partners. The two developments will provide modern housing and study environments for over 1,200 students and are scheduled to open at the start of the 2025/2026 academic year.

New destination projects on the way

At the end of Q1 2025, Archicom – Echo’s residential development company – had over 3,500 units available for sale and a further 11,300 in the pipeline. During this period, Echo launched the sale of nearly 1,000 apartments, handed over 24 units to customers, and completed the sale of another 530 units.

Among the Group’s well-performing projects is Modern Mokotów in Warsaw, a green, 15-minute-city-inspired development that will ultimately offer 1,500 apartments. A portion of the units will be delivered this year. The project also includes a public elementary school for 450 pupils, fully funded by the company, and set for completion this year.

In May, Echo delivered Office House in Warsaw – the first completed and 90% leased office building within the Towarowa22 destination project. The development provides 32,000 sqm of modern office space. Work is also progressing on the M7 premium residential building with 143 apartments, and construction will soon begin on the next stage – Gutenberga Apartments with 169 units. The entire Towarowa22 development, in partnership with AFI, is expected to be completed by the end of 2028.

In Wrocław, construction of the first phase of the Swobodna SPOT office complex is underway. The building reached its topping-out milestone in Q1 2025, and the first lease agreements were signed. The project will deliver over 16,000 sqm of office space by mid-2026.

In Kraków, leasing has been successfully completed at the Brain Park office complex. Simultaneously, the city is witnessing the development of the WITA mixed-use project, which will deliver its first student housing component and residential units to customers by the end of this year.

Echo’s strategy of systematically expanding its offer, backed by strong marketing, ensured stable operations of the Libero Katowice and Galeria Młociny shopping centres during Q1. Both centres remain nearly fully leased and continue to attract high footfall, underscoring their solid market positions.

Strong investor and lender confidence

“Echo’s stable position is the result of a prudent capital management strategy and diversified revenue streams. The lower number of residential unit handovers impacted Q1 results, but we expect this figure to increase in the next reporting period. We are also seeing growing interest in the commercial market while focusing on optimising operating costs in this segment”, commented Maciej Drozd, CFO of the Group.

During the reported quarter, the Group secured €61.4 million in refinancing for the Libero Katowice. The financing was provided by a consortium composed of Bank Pekao S.A. and PKO Bank Polski S.A., underscoring the strong assessment of the Group’s operations by leading financial institutions.