Echo Polska Properties (EPP) is a real estate company with a similar structure and objective as a real estate investment trust (Reit) and invests in commercial property in Poland. The company was listed on the Luxembourg Stock Exchange on August 30 2016 and the JSE on September 13 2016. It has subsequently been included in the SA property index and had a market cap of R13.4bn at end June 2017.Hadley Dean (45), the chief executive officer of EPP, has 20 years’ real estate experience, including nine years with Colliers in Poland. In our view, EPP has a strong management team based in Poland, and it is worth noting that Marek Belka, a nonexecutive director, is a former prime minister of Poland (2004-2005) and president of Narodowy Bank Polski (the Polish Central Bank). EPP has strategic relationships with Echo Investment (Echo). Echo is the largest Polish real estate developer – most of the properties currently in EPP’s portfolio were developed by Echo.EPP and Echo are co-investors in ...
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