Echo Polska Properties has appointed Marek Belka, a former prime minister of Poland and a governor of the country's central bank, to its board of directors.
Echo Polska Properties (EPP) is the recently spun-off property management company of Warsaw-based developer Echo Investment which is due to float on the Euro MTF market of the Luxembourg Stock Exchange (LuxSE) and the Johannesburg Stock Exchange (JSE) in September.
Belka, who start his duties this month as an independent non-executive director, says he is 'very excited' about the prospect of applying his professional experience in the real estate area.
'This is the sector with the highest growth potential, and this has been confirmed by various recent economic indicators,' he said.
EPP is currently jointly owned by Echo Investment and South Africa’s Redefine Properties.
'EPP's listing on the LuxSE and the JSE is anticipated to provide it with significantly improved access to expansionary capital and provide existing and future shareholders with an opportunity to invest in a dynamic and highly-attractive economy,' EPP's CEO Hadley Dean said.
The value of EPP’s initial portfolio as at 30 June 2016 was €1.2 bn, with retail properties comprising 78% of the initial portfolio by market value.
