Hungarian developer Wing has finalized its acquisition of a 56-percent stake in Echo Investment, the largest Polish developer on the Warsaw Stock Exchange. “Wing’s acquisition of the largest, market leading Polish real estate developer is a major strategic milestone in our international expansion. Poland’s real estate market is the largest in the CEE region and offers significant growth and development opportunities,” said Noah Steinberg, CEO of Wing. “The purchase of the majority stake of Echo Investment, a publicly listed profitable and reputable company will further strengthen both companies and will present Wing and Echo Investment with new opportunities at a regional level.” Wing cooperated closely with Griffin Real Estate in the course of transaction, and it is anticipated that Griffin will become a co-investor in Echo Investment in the coming months.
