We use cookies to make sure our website better meets your expectations.
You can adjust your web browser's settings to stop accepting cookies. For further information, read our cookie policy.
IN Warsaw
Exchange Rates
Warsaw Stock Exchange - Indices
The Warsaw Voice » Real Estate » September 3, 2008
You have to be logged in to use the ReadSpeaker utility and listen to a text. It's free-of-charge. Just log in to the site or register if you are not registered user yet.
Market Mix
September 3, 2008   
Article's tools:

Echo Investment Cuts Deal with Kielce University of Technology
Echo Investment will build a sports arena for the Kielce University of Technology in the city of Kielce in south-central Poland in exchange for a 30-year lease on land for a parking lot close to the Galeria Echo shopping center.

Echo Investment will reserve 100 parking spaces on the new lot for university use.

"This is a precedent for agreements between a public educational institution and a private firm," said Prof. Wies³aw Tr±mpczyñski, head of the Kielce University of Technology.

The sports arena will be almost 3,500 sq m in size and used for external matches as well as for the university's own needs. The 40m x 43.5m pitch will be big enough for indoor soccer games and to accommodate two pitches for volleyball, basketball or handball or tennis courts. The facility will also have changing rooms, a fitness club, a weight room and a shooting range. The facility will have seats for 500.

"Building work will start in the spring and we hope to finish it by Christmas next year," said Echo Investment CEO Piotr Gromniak.

The building will also host cultural events. The estimated cost of the project is zl.16 million.

The construction of the parking lot for almost 2,300 cars and new access roads will start in September and mark the beginning of redevelopment work at Galeria Echo. Currently Galeria Echo covers an area of some 68,000 sq m, of which some 26,000 sq m are leasable. The redevelopment project includes the building of four retail floors and multi-level parking for 2,300 cars. When finished, Galeria Echo will be some 159,000 sq m in size, but is designed to marry with its surroundings. Gross leasable area will measure 66,000 sq m. Shoppers will have 300 stores to choose from. The two top floors will house leisure and entertainment facilities such as a weight room and a fitness club, a 12-lane bowling alley, a disco, numerous restaurants and coffee shops, and a play area for children.

The new Galeria Echo will open its doors in 2010. The estimated cost of the redevelopment is some zl.400 million. Local Kielce architects Detan designed the bulk of the project except the facade, which is the work of Warsaw's Open Architekci.

Engel & Völkers Headed This Way
International German-based consultancy and intermediary services company Engel & Völkers Commercial is planning to open an extra 30-35 offices in Europe by 2012, including in Warsaw.

"Over the coming three to four years we want to initiate operations in 30 to 35 major cities across Europe," says managing director Lars Pfeiffer. The next tranche of expansion beginning in 2008 will focus on Warsaw, Copenhagen, Madrid, Bucharest and Sofia.

The company is on the lookout for local partners to work as individual contractors in various market segments. Specifically, they are looking for people experienced in real estate who have management experience.

Engel & Völkers Commercial is based in Hamburg. The company specializes in commercial real estate, especially leasing, sales and valuations, and has 28 offices in Germany and others in Dubai, South Africa, Switzerland, Portugal, the Czech Republic and Spain. Engel & Völkers Commercial has more than 500 employees working directly with some of Germany's largest companies.
© The Warsaw Voice 2010-2018
E-mail Marketing Powered by SARE