How would you assess the changes that have taken place in the real estate market over recent decades? What has surprised you most, and of what can you now say, “I always knew it would be like this”?
Rafał Mazurczak, the COO of Echo Group: The last decade has brought about fundamental changes – a shift from the dominance of traditional shopping centres and office space to the growing importance of sustainable development, mixed-use projects and flexible leasing formats. Investors, office tenants and home buyers and renters are increasingly guided not only by the location, but also by the quality of the space, the technological systems, and the environmental impact. In this context, Poland has become a mature market that adapts to megatrends and the expectations of new generations of clients – and often anticipates them. At Echo Group, we are proud to have been creating and managing buildings holistically for many years, taking into account functionality and aesthetics, the sustainable development of cities, and the needs of users – including their sense of belonging. Our destinations concept has helped us break away from the mono-functional approach to building design, offering instead multifunctional city blocks that live in sync with the urban rhythm. Thanks to this, our projects have become part of a wider whole – inspiring meeting places in settings that are both central and green.
Which of Echo’s projects is your personal favourite, and why?
I’m a great admirer of a project that is currently under development – Towarowa 22 – because it is more than just a collection of buildings; it’s a vision of a multifunctional urban ecosystem. It combines the heritage of Warsaw’s Wola district with modernity and environmental care, creating space that will enrich the daily lives of residents, employees and visitors. By restoring the pre-war street layout and introducing pedestrian walkways, this project reintegrates with the historical fabric of the city. The inclusion of retail and services at the street level will foster social interaction and turn this location into a destination in itself. Without a doubt, Towarowa 22 – which is being developed jointly with AFI – sets a new benchmark for city-shaping projects in Warsaw and represents an important milestone for Echo Group, just as Browary Warszawskie and Fuzja in Łódź did before it.
Echo Investment, Archicom, Resi4Rent, StudentSpace and CitySpace have recently begun operating under the umbrella brand Echo Group. How do you assess this change after the first few weeks?
Echo Group is an umbrella brand designed to highlight the strength that comes from business diversification and a broad spectrum of expertise. The introduction of the new identity has allowed us to unify both external and internal communications – it is now easier for us to present each company – Echo Investment, Archicom, Resi4Rent, StudentSpace and CitySpace – as part of a larger whole. At the same time, each of these brands has retained its own identity, which it uses in communication with its individual audiences and clients.
What are your forecasts for the market? Can we afford to be optimistic, or should we maintain a certain degree of caution?
I believe that experienced, diversified players such as Echo Group have a bright future ahead. Market trust, the ability to adapt, explore new segments and collaborate with other entities – as well as the aforementioned focus on the needs of end-users – are all factors that will build a competitive advantage in the coming years. International investors are gradually returning to the market and closing transactions here. We are seeing growing interest in mixed-use projects, top-quality office buildings in Poland’s key markets, and residential investments – including in the PRS and PBSA sectors. The perception of the Polish market remains clear: its scale and the opportunities it offers continue to be the greatest in this part of Europe.
