Hungarian investor acquires Echo Investment for €268m

Hungarian investor and developer Wing has plans to acquire Poland-based Lisala, which owns a 55.96 percent stake in listed Polish developer Echo Investment, for approximately €268 million ($299 million).

“During the mapping of regional markets, the Polish real estate market proved to be the most attractive investment destination, based on real estate development opportunities and the characteristics of the investorsʼ market. So, we were looking for a strategic investment opportunity that offers long-term growth potential besides stable and successful operation,” said Noah Steinberg, president-CEO of Wing.

Echo Investment is one of the largest real estate developers in Poland. Echo Investment has almost 90 projects in the pipeline, with a total estimated usable area of 1.3 million square meters (14 million square feet).

Wing is one of the largest privately-owned Hungarian real estate companies and a leading Hungarian developer and investor. Wing has develo