Wing to acquire a 56% stake in Echo Investment for $42m.

Wing, Hungary's real estate company, agreed to acquire a 56% stake in Echo Investment, a Polish developer listed on the Warsaw Stock Exchange, for $42m. "During the last four years, we successfully turned the company from a long-term holder of completed assets to a pure developer, in line with the Strategy of Profitable Growth. Echo Investment is well prepared to continue growth in Poland, building residential, office, and urban destination projects. We have almost 90 projects in the pipeline, with the total estimated usable area of c.a.1.3m sqm. With the support of a new, long-term investor also being a developer, we are convinced that Echo Investment will continue its growth and strengthen its market position," Nicklas Lindberg, Echo Investment CEO.