Echo Investment sold 406 apartments in the fourth quarter of 2021, compared to 464 a year earlier, the company said. The number of flats delivered to clients during that time amounted to 1,006, compared to 792 delivered in the fourth quarter of 2020.
Throughout 2021, Echo concluded 1,680 sales contracts (previous year: 1,570), and handed over 1,622 units (previous year: 1,505), according to its announcement.
“Results in the segment of apartments for rent
– 1,497 apartments for rent, the construction of which started in 2021, compared to 310 apartments started in 2020,
– 834 apartments delivered to the Resi4Rent Group companies in 2021, compared to 946 apartments delivered in 2020 “- we read further.
The data does not include flats sold and handed over to clients by the Archicom group, which Echo Investment has controlled from April 22, 2021. The management board of Echo Investment estimates that the consolidated results will reflect the handover of approximately 1,090 flats by Archicom to clients.
“Over the last five years, from the position of a company selling about 300 apartments per year, through organic growth and the purchase of Archicom, our group has joined the group of the largest housing developers in Poland. However, our ambitions do not end there. We want to take advantage of the favorable conditions and gain an increasing share of We are prepared to do so. The land bank of both companies intended for residential projects allows us to build about 15,000 units in the coming years. We have the best specialists, many years of experience and an excellent brand. the situation in the coming quarters will translate into an increase in scale and higher profitability of our projects,” commented Nicklas Lindberg, CEO of Echo Investment.
Source: Echo Investment and ISBnews
