Echo Investment Intends to Build a Quarter a Million sqm of New Office Space
In 2018, Echo Investments concluded lease agreements for about 80,000 sqm in total. This year the company is not going to stop. They plan to build roughly 100,000 sqm of offices in four cities. Plus, they prepare projects for 150,000 sqm in total.
In the previous year, the Polish market of office premises demonstrated strong results. According to Savills, about 750,000 sqm of new premises appeared. Now, there is 10.4 mln sqm available across the country. The good news is the demand is also incredible.
A representative of Echo Investment noted that in addition to the great demand for their office premises, there were many investors want to find the most promising projects. Last year, the company proceeded with the construction of four projects in Warsaw and Katowice. They leased about 80,000 sqm out of 93,000 sqm and sold three office constructions.
The team believes that 2019 will be another busy year for the company. They intend to start building about 100,000 sqm of office premises in different cities. In fact, they are currently involved in five projects in different cities; six more are on the list. This includes spaces where people can work, live, go shopping and spend time together. Browary Warszawskie in Wola and Moje Miejsce in Lower Mokotów are examples of such space.
The company also hopes prestigious tenants will be willing to cooperate with them. In fact, they are already at the final stage with many agreements. The company representative stressed they had leased space to reputable companies at the development stage. The team plans to complete all buildings in Browary Warszawskie by mid of 2020. Then they intend to invest in other projects in different places.