On March 9, representatives of the City of Łomża and Echo Investment signed a Notarized Deed providing ultimate regulation of the issue of site ownership.

Dariusz Anisiewicz, architect, Echo Investment's planning & administration specialist, who represented the Company at execution of the Notarized Deed, says: "Through signing the deed, we have effectively obtained title to dispose of the entire site required for development of Galeria Veneda mall'.

"Galeria Veneda" shopping center will be built on a land plot at the junction of Zawadzka Street and Sikorskiego Street, Łomża. The approximate area of the mall will be 39,000 square meters. The programme of the mall includes development of approx. 90 shops and a hypermarket. More than 600 parking places will be made available to the customers of the center.

The architectural concept was created at the Mąka Sojka Architekci design studio of Warsaw, in collaboration with Echo Investment's team of architects. At the moment, documents are being gathered for submission of a building permit application.

Commencement of civil works is scheduled for the 2nd half of 2010 and the construction process should last approximately 15 months.