Echo Investment S A : – Archicom Group records growth in sales of apartments
April 06, 2023 at 07:34 am
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Echo Investment - Archicom Group records an increasing interest in apartments from customers and is ready for an increase of sales in 2023. Nearly 2.5 thousand apartments is planned to start.
Echo Investment - Archicom Group sold 374 apartments in the first quarter of 2023, compared to 313 apartments in the fourth quarter of 2022 and 175 apartments in the third quarter of 2022. The sale in the last three months includes 116 apartments from Echo Investments' projects and 258 from Archicoms' projects in Wrocław.
"We observe a clear upward trend. Despite the difficult environment, the residential market is active. Since August last year, each month we see a growing number of transactions and customer interest. This proves the strength of this market, the trust of clients to invest in real estate, as well as confidence to the largest and strongest companies, such as Echo Investment and Archicom. That is why we are investing in new projects. It is also important to us due to the fact that sales results in the first quarter were affected by the small number of apartments in our offer at that time. Currently, we offer over 1.2 thousand apartments, and in 2023 we plan to start the construction of about 2.5 thousand. Therefore, we expect a significant increase in sales compared to last year,"saysNicklas Lindberg, CEOof Echo Investment.
Projects which construction is due to start in 2023 are located in Wrocław (37%), Warsaw (33%), Poznań (16%), Kraków and Łódź (8% each).
In the first quarter of 2023, the Echo Investment-Archicom Group delivered 293apartments to customers, of which 164in Echo Investment and 129 in Archicom. The land bank owned by the Group allows for the construction of nearly 12,000 units.
Echo Investment SA published this content on 06 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 April 2023 06:33:09 UTC.
Echo Investment SA is a Poland-based company active in the real estate sector. The Company realizes investments in three operating segments: residential areas, providing leasing out and sale of residential and commercial space; shopping centers, providing leasing out and sale of commercial and entertainment space; and office buildings and hotels, providing leasing out and sale of office and hotel space. The Company manages the investment processes of given projects, starting from the purchase of property, through obtaining administrative permits, financing, implementation, supervision to putting the facility into service. The Company provides its services in Poland, Ukraine, Romania and Hungary. The Company operated 75 subsidiaries providing construction and engineering services, as well as rental and management of real estate properties. The main shareholder of the Company is Bafia Sp z o o. It operates through Compass Offices Management Poland Ltd Sp z o o.