ECE to go ahead with Polish shopping centre scheme

ECE project management is set to go ahead with its Galeria Kaskada shopping centre in the Polish port city of Szczecin in spite of current economic conditions and the severe slowdown of development in Central and Eastern Europe, Alexander Otto, CEO of ECE, has said.

Speaking in Prague at the opening of the company's 100th shopping centre Otto confirmed the significance of the project. 'Our priority in Poland is on our project in Szczecin. We have been working on it for eight years are really committed to it. It is really at the top of our development list so it’s going to go ahead,' he said.

The 42,000 m² retail site will comprise about 140 shops. Total catchment area is over 700,000 and the centre's location, only 15 kilometres from the German-Polish border, is another key feature along with its numerous connections to city transport. Completion is due in 2010.

ECE has developed five shopping centres throughout Poland, but beyond the Szczecin project its approach is one of watching the market and waiting. Otto: 'We are looking at different sites. We also own some very nice sites, but right now obviously isn’t the right time to make big announcements.'

One project ECE plans to return to is the second phase of the Nowe Miasto mixed-use development in Cracow, which will add a residential component to the Galeria Krakowska. According to Otto an office component will probably be a later addition done in conjunction with partners. 'In Cracow, we will use the time to get the necessary zoning and planning permits,' Otto added.