Archicom, responsible for the flats for sale segment of the Echo Investment Group, has sold 1,835 units and handed over 2,212 in 2023, Echo reported. Archicom plans to launch 10 new projects in the first half of this year.
In the segment of flats for sale, Archicom ended 2023 with 1,835 concluded preliminary and development agreements. The keys to a total of 2,212 flats were placed in the hands of customers, and further phases and new developments in Wrocław, Warsaw and Łódź were added to the market. This development will gain momentum in 2024 so that in the medium term Archicom will sell 4,000 flats per year, the company announced.
In the first half of [2024] alone, Group-owned Archicom plans to launch ten new projects in the largest cities in Poland, the company added.
In the segment of flats for rent, the Resi4Rent platform maintains its position as the largest player in Poland. In 2023, it expanded its offer with new projects in Warsaw and Wrocław (1,100 flats). Currently, it has a total of more than 4.1 thousand completed units in 13 locations – also in Kraków, Poznań, Łódź and Gdańsk. Resi4Rent is preparing to develop a total of approximately 11,000 rental flats by 2026, of which 1,600 are scheduled for completion in 2024. The platform’s development plans in 2023 have been supported by, among others, financing worth PLN 613 million granted by a consortium of three banks, as well as – for the first time in the Polish PRS sector – participation in the EBRD’s Resilience and Livelihoods Framework programme, it was also reported.
In turn, a total of over 45,000 m2 of space was leased in Echo Investment’s office buildings last year. Clients who signed new or extended contracts included Deloitte, Medicover, ASB Poland, Deles Group, Alorica Inc, Bank Pekao S.A., Pekao Direct and Apptio, it was listed.
In parallel, Echo Investment is developing the concept of flexible space. In 2023, the 13th CitySpace location opened – approximately 2,000 m2 of space in the Łódź Fusion. In response to tenant interest, CitySpace in the MidPoint71 building in Wrocław was also expanded by a further 1,300 sqm. In total, CitySpace offers 3,800 workstations throughout Poland.
Echo Investment is currently focusing on the implementation of office projects in the largest cities. In Warsaw, the construction of Office House (31 thousand sq m) – the first building in the multifunctional quarter Towarowa 22 – has exceeded zero level. In Wrocław, the first stage of Swobodna SPOT (targeting 41 thousand sq m) is under construction, it was also reported.
“We start 2024 prepared to take advantage of the opportunities presented by the rebound in the residential market and the further scaling of Archicom’s operations, as well as the situation in the commercial sector and the demand for mixed-use destination projects. The standard of our buildings, their quality and sustainable approach, place them among the top products in key market segments and translate into interest from residential and business customers. The new opportunities we are exploring related to the dormitory market will translate into even greater diversification of the Group’s portfolio for the benefit of investors,” summarised Echo board member Rafal Mazurczak.
Source: Archicom and ISBnews
Photo: River Point, Wroclaw
