Echo Polska Properties NV’s distributable earnings increased by 3.2 percent to €16m in the first three months of the year. The company’s portfolio, which includes 10 retail and nine office properties as well as two Warsaw retail development sites, was valued at €1.5bn at the end of March. “We are delighted with our Q1 performance which was in line with, or in some cases ahead of, expectations,” said Echo CEO Hadley Dean. Net asset value totaled €679m. Footfall in the retail portfolio increased 4.6 percent while sales were up 7.5 percent y-o-y. Retail vacancies fell to 1.26 percent, while office vacancies dropped to 3 percent.
