Echo-Polska Properties, the dual JSE and LuxSE-listed Poland-focused property group, has acquired an effective 70% of the Galeria Mlociny mixed use project in Warsaw. The acquisition is part of Echo Polska’s strategy to expand its retail exposure in the capital. "The Polish retail property market is underpinned by very strong sales growth which is supported by robust consumer spending and the government’s well-received social grants programme, which provides support to families with more than one child," said Echo Polska CEO Hadley Dean. "We are delighted to have completed this acquisition which provides us with an earlier entry into the highly under-served Warsaw retail market. Notably it is located in a strategic transport hub in a large growing residential district, serving 40,000 people a day," he said. Echo Polska’s success came down to a growing and hard-working property management team and its ability to operate in a market which was open to investment, Dean said. "Poland is ...
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