Echo Group ended the first half of 2026 with strong activity in the commercial segment and a 14% increase in residential sales. During this period, it also completed the largest transaction in the history of Poland’s PRS market – the sale of part of the Resi4Rent portfolio for approximately PLN 2.4 billion – and sold two buildings in the Brain Park office complex in Kraków for EUR 74.3 million. The capital raised allows the Group to reduce debt and prepare new investments, primarily in central Warsaw.

Echo is currently developing, or will soon begin construction of, three new office buildings in Warsaw: two in the Towarowa22 superquarter and a high-rise at 53 Grzybowska Street. Demand for high-quality office space in central locations is reflected in the record-breaking lease signed with PwC. The company will occupy nearly 20,000 sqm in AFI Tower, which is being developed by Echo. 

The company is also developing destination projects in other major cities. In the first half of the year, it completed Swobodna SPOT in Wrocław, which delivered 16,000 sqm of office space. Meanwhile, the approximately 18,000 sqm office component of the WITA project in Kraków was fully leased before completion.

In total, the Group leased 54,000 sqm of office space in Poland’s largest business hubs during the first half of the year, representing a significant year-on-year increase. It is also finalising agreements covering a further 17,000 sqm.

„The first-half results show continued demand for our residential and office offering. At the same time, having completed several key transactions, we are moving into the next stage of our strategy. The capital raised will allow us to reduce debt and launch new projects, particularly offices in central Warsaw, where the supply of modern space remains limited. We will also continue to expand our residential operations and living segment, drawing on the potential of all the Group’s core business areas” – says Nicklas Lindberg, CEO of Echo Group.

Growth of the living segment

The living segment remains an important area of the Group’s business. Following the sale of part of the Resi4Rent portfolio, comprising 18 projects and 5,322 units, the platform continues to grow. At the end of June, almost 2,800 units were in operation, with a further 945 under construction in Warsaw and Kraków.

Archicom also delivered strong results. In the first half of 2026, the company sold 1,320 apartments in Poland’s largest cities, 14% more than a year earlier, and handed over the keys to 1,137 units.

Development of StudentSpace is also gaining momentum. Two private student residences under construction in Warsaw will offer a total of 1,095 beds. The first 500 will become available to students in October, at the beginning of the academic year. The projects respond to growing demand among Polish and international students for high-quality living and study conditions.

Secure financial position

At the end of June 2026, Echo’s assets exceeded PLN 6.4 billion, while cash and cash equivalents stood at PLN 419 million. In the first half of the year, the Group repaid the vast majority of bonds maturing in 2026. It also amended the terms of bonds with a total value of nearly PLN 500 million, reducing the interest paid on them by approximately PLN 7.5 million annually.

The Group’s strengthened liquidity enabled it to decide on the early redemption in full of Echo Investment’s 1I/2022 bonds, with a nominal value of PLN 180 million, and to increase the total dividend for the financial year to PLN 1.2 per share.

„Our secure liquidity position and consistent debt reduction are increasing our financial flexibility. This allows us to plan new investments with confidence while lowering financing costs and making distributions to shareholders. The Group’s diversified business and strong operating performance provide solid foundations for further growth” – explains Maciej Drozd, CFO of Echo Group.

In the coming quarters, the Group will continue to develop its commercial, residential and living segments, focusing on the areas with the greatest growth potential.

One of Echo Group’s key growth areas remains its residential and living business. In the first quarter of 2026, the Group sold 602 apartments, up 14% year on year, and handed over 730 units to customers. These results were driven by Archicom, which continues to expand its residential offering in Poland’s largest cities.