News

The Investor and the Municipality agrees to work together on renewing Bosnyák tér

The Construction of MUNDO centre is set to create more than 1,000 jobs in Zugló

8th of October 2014. – Echo Investment and the Municipality of the XIVth district have signed a letter of intent signalling that the two parties are working together during the process of renovating Bosnyák tér. Echo Investment will develop a MUNDO Gallery – a part of the wider municipal project, which also contains a new sports center, a park, renovated Bosnyák market and the new administrative center for Zugló.

A letter of intent has been signed regarding the cooperation between the Municipality of Zugló and Echo Investment, which will be undertaken during the construction of 5 000 square meters of park, a new and environmental friendly shopping and entertainment centre, a brand new sports centre, and renovating the complete neighbourhood of Bosnyák tér. The technical conditions and the detailed scope of common works are under discussion, and will be finalized in the following quarter.

“We are proud that through the building of Mundo Gallery, we can be part of developing the new city centre of Zugló. According to our expectations, the construction of Mundo will provide more than 1,500 job opportunities in Zugló, while the functioning shopping centre will create more than 1,000 jobs. This means that around one quarter of all job seeking people in Zugló will be able to find a job in Mundo Center. So with this investment, we are not only building a new city centre, but also aiding the economic upheaval of the district. We are confident that the new shopping centre will be an integral part of life in Zugló in the short term.”- Said Ahmet Cetin Project Manager on behalf of Echo Investment.

Ferenc Papcsák, the Mayor of the XIVth district has emphasized:

“This agreement is an important step in the process that will make Bosnyák tér the new main square of Zugló. The first phase had been completed when the construction of the Páduai-Szent Antal church and the square behind it finished. The next steps are renovating the market, building the commercial and service centre and the construction of the new Lantos Mihály multi-functional sports centre. We are of the view that this project will benefit every resident of Zugló, as other renovations and building projects will start as well, raising the property values in the whole neighbourhood”

Echo Investment has announced that the construction of Mundo Gallery, which will be 107,000 square meters big in total will start early next year, and is expected to be completed by 2018. The newly constructed shopping centre will include around 170 stores, a multiplex movie complex and about 1,350 parking spaces.

Echo Investment is finalizing works on the architectural and functional concept of the Mundo Gallery. Particulars of the project will be fully presented in coming weeks.

About Echo Investment

Echo Investment is a developer company established by Michal Solowow – one of the biggest Polish investors, who also controls such international brands as Rovese (formerly Cersanit), Barlinek, and Synthos. The company is today among the biggest investment and development companies with Polish capital in Europe. The company realizes investments in four key sectors of the real estate market: housing, shopping and shopping/entertainment centres, office buildings and hotels. Since 1996, the company has been listed on the Warsaw Stock Exchange. So far Echo Investment has completed over 100 projects with a total area exceeding 1,000,000 m2.

 

Further information
Szatmári Péter
Café PR
+361-880-3091

Gepner Wojciech
Echo Investment
+48 41 333 3700

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