Echo Investment is launching its operations on the Romanian market. The first of Echo’s projects in Romania will be a shopping and entertainment center in Brasov.

On September 28, 2007 a subsidiary of Echo Investment S.A. called Echo Investment Project 1 SRL with its registered seat in Bucharest signed an agreement of purchase of 4-hectare real estate situated in Brasov, Romania. Echo intends to develop an advanced shopping and entertainment center on the purchased land, total area in excess of 100,000 sq. m. Commencement of the investment project is scheduled for 2008 and completion is anticipated in 2010. The value of the investment project is estimated as over 100 million EUR.

Purchase of land in Brasov is in accordance with the strategy assumed by the company, whereunder Echo Investment is expanding its range of operations on the markets of Central and East European countries.

-----

BRASOV is one of the most beautiful Romanian cities, with outstandingly preserved old town, situated at the foot of Southern Carpathians.

It is among the largest cities of Romania (following Bucharest) (ca. 330 thousand inhabitants), a provincial city in the Transylvania region, an important economic, scientific, academic, administrative, historical, cultural and tourist center. The town’s economic and development advantages support the anticipated investments in traffic infrastructure, namely an international airport and the Bucharest – Budapest highway. The town’s tourist attractions are supported by the proximity of Poiana Brasov, major skiing resort of Romani, as well as anticipated development of a golf course.

The history of Brasov dates back to the 13th century. Both the city itself and the entire region has long been profiting from Saxon and Hungarian influence. Today, Brasov is among the most important historical cities of Romania, rich in valuable monuments and attractive remnants of a historical cultural mix.
 
www.brasov.ro