A WEE DRAM
CHRIS GILMOUR: Investing in Polish property not all plain sailing for Echo
Echo Polska Properties (EPP) invests solely in the Polish property sector and specifically in retail and office, in the ratio of 72% retail, 28% office. It dual-listed on the JSE in mid-2016 and has since been a laggard, falling significantly in line with many other offshore property counters. Operating large shopping centres by global standards, its Galaxy centre in Szczecin has a gross lettable area of 57,000m², and the Galeria Echo in Kielce is 72,000m². For perspective, the Sandton City-Nelson Mandela Square combination measures 215,000m² of retail, hotel and office space, Eastgate is 144,000m² and Rosebank Mall is 62,000m².There is much debate as to whether the Polish economy is a good place to be. Although it is booming, detractors argue that its strength is not sustainable. The Poles are hard working and intelligent, reflected in the country’s rapid move up the scale of industrial and consumer development since throwing off the yoke of communism in the 1990s. In real terms, P...
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