Echo Investment Capital Group closed the third quarter of 2007 with the net profit equalling nearly 63 million PLN and profit of shareholders of parent entities at the level of 57 million PLN. Group’s net income exceeded 94 million PLN and is by almost 20% higher compared to last year results. After three quarters of 2007, the company’s net income accrued and equalled 274 million PLN, and the net profit of shareholders of parent entities exceeded 268 million PLN.  The Capital Group recorded net income in the amount exceeding 285 million PLN, which constitutes a 10% increase compared to identical period of 2006.

This result gained in the third quarter was in the first place, an outcome of updating of pricing on real property owned by the Capital Group, allowing for, among others; change of the level of capitalization rates and change resulting from exchange rate differences of EUR and USD, and settlement of sale transactions of two office projects and two shopping centers in Łódź and Kielce. Obtained result was also to a large extent influened by income acquired from the lease
of commercial areas and sale of residential projects.

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Echo Investment takes advantage of the boom on the commercial real estate market. By 2013, the Company is planning a 300% increase of area in shopping centers projects. The Company intends to accomplish 7 new projects (including investments in Hungary and Romania) and develop the already-existing shopping centers. After completion of them, the number of this type of projects in the company’s portfolio shall be 17.

Echo Investment actively expands in the sector of office real property. The Company’s plans anticipate a 900% increase of this type of area by 2013. In the portfolio of accomplished realizations and projects still in the pipeline, there are 9 office buildings. After their completion, Echo Investment shall own 12 office projects of the total net area
of almost 300 thousand of sq. m. 

The Company is also planning to build a hotel in Łódź.

In three quarters of 2007 Echo Investment has been continuing realization and sale of residential projects. In the first half of 2008 two projects shall be given over for use in Warsaw. By 2013 the Company is planning to increase sale
of residential buildings by 300%. There are altogether 19 new projects in the pipeline and being realized (3.000 apartments).

Echo Investment has secured altogether about 280 hectares of land for new investments. By the end of 2008, the Company’s investment expenditures for purchase of land should amount to 1 milliard PLN. Pursuing the assumed development strategy, the company  is still actively searching for new possibilities of realizing new investments in all four sectors of its activity, both in Poland and abroad. In 2007 the Company purchased a plot of a very attractive localization in Romania, on which it is going to erect a shopping-entertainment center of the area of 50.000 sq.m.