Echo Investment has signed preliminary contracts to acquire land plots in Poznań, Łódź and Kraków from the Tesco Group. The properties are consistent with Echo’s strategy to continue growing the residential part of its business. The developer plans to dedicate all the plots to mixed-use projects, with plans to deliver a total of 4,000 apartments as well as retail space. The Kraków plot will also include office space. The sites’ existing shopping centers will be managed by Echo Investment until construction begins. Tesco’s office space and store in Kraków will continue to operate until a new building has been developed on the plot, where the store and offices will be relocated. The stores in Poznań and Łódź will continue to operate until permits are in place and construction starts.
