Echo Polska changes focus solely to retail property in Poland
Polish property landlord Echo Polska Properties (EPP) has decided to invest solely in retail properties as opposed to a mix of retail and offices, because of strong potential rental growth for shopping centres in the country. On the release of the group’s March quarter results on Thursday, CEO Hadley Dean said he was excited about the retail prospects for Poland, which is one of the fastest-growing economies in Eastern Europe. "There are very strong rental growth opportunities in retail. We like the Polish office market, but Polish retail really stands out for us. We want to dominate the shopping centre market — over 30,000m² — in the country. Many of the opportunities going forward will include expanding existing malls, as opposed to building new ones in cities which already have many malls," said Dean. "We should double in size from where we are now and be a €3bn by 2020," said Dean. The group achieved a net profit for the March quarter of €23.95m and distributable income of €16m....
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.