Echo Investment has signed a financing agreement with Bank Pekao S.A. for WITA, a mixed-use destination project being developed on a nearly 3-hectare site in the centre of Kraków. The financing package comprises a five-year construction and investment loan as well as a VAT facility, with a total value of 36.4 million euro. The secured funding confirms financial institutions’ confidence in the Echo Group and supports the continued delivery of the project in line with its development plans.

WITA is the first destination project of its kind in Kraków. Located on Wita Stwosza Street, it will create a multifunctional urban quarter combining offices, services and residential buildings. Echo Investment is responsible for the commercial component of the development, comprising two office buildings. In recent weeks, one of the buildings was fully leased to Brown Brothers Harriman, which will occupy 13,300 sqm of modern workspace. The second building has attracted tenants including OMobility, which leased more than 4,200 sqm. The residential component, consisting of two apartment buildings, is being developed by Archicom.

“Securing financing for the WITA project confirms the trust that leading financial institutions place in developments delivered by the Echo Group. Our Kraków project is currently one of the key investments in our portfolio. The agreement with Bank Pekao provides a solid foundation for its continued execution in line with the project schedule. WITA reflects our strategy of creating multifunctional, city-making destinations that respond to the needs of modern users in Poland’s largest metropolitan areas,” said Grzegorz Iwański, Head of Investor Relations and Financing at Echo Investment.

WITA has been designed in line with high sustainability standards. The buildings are targeting BREEAM Excellent certification and will incorporate solutions supporting the efficient and responsible use of space. These include the partial use of renewable energy sources, a rainwater recovery and reuse system, electric vehicle charging stations, an intelligent building management system (BMS), and advanced VAV-controlled ventilation ensuring high indoor air quality.