High market fragmentation, rising land costs, the need to rapidly scale operations, and succession issues in companies mean the Polish residential market will face a wave of mergers and acquisitions (M&A) in the coming years, according to a report by JLL Living and Crido.

International capital is once again showing a stronger interest in Polish commercial real estate. Recent transactions completed by Echo Investment highlight how investors are reassessing pricing, income stability and long-term growth prospects in the market. In this interview, Judyta Sawicka, Head of Investment at Echo Investment, discusses what is driving buyer demand today, how the company decides when to monetise mature assets and why capital recycling into living and mixed-use developments is becoming central to Echo Group’s strategy.

Echo Investment has signed a final agreement for the sale of the Brain Park A office building, spanning 14,000 sqm, in Kraków to the SCPI Transitions Europe fund, managed by Arkéa Real Estate Investment Management. 

Baltic investors are becoming increasingly active in the Polish real estate market, reflecting a search for larger and more liquid investment environments than those available in their home markets. At the same time, pricing expectations, liquidity conditions and asset management opportunities in Estonia, Latvia and Lithuania continue to shape how investors approach expansion and portfolio allocation across the region. Property Forum reports from the Nordic Real Estate Forum 2026, organised in Tallinn.

Echo Investment has signed a sale agreement for Brain Park C building. The latest phase of the Kraków-based office complex will be acquired by Greenstone Asset Management, a private equity and investment firm. The building provides 13,700 sqm of GLA and has an BREEAM rating.

Echo Investment has completed the sale of Libero shopping centre in Katowice to Estonian investment firm Summus Capital for €103 million. This marks the largest single retail property acquisition in Poland in 2025.

Echo Investment strengthened its market position in the first half of 2025, participating in Poland's largest PRS transaction - the sale of 18 Resi4Rent projects worth €2.4 billion - and selling its remaining Office House shares for over €160.5 million.

Echo Investment has completed the structural works on two office buildings within the WITA mixed-use development in central Kraków. A traditional topping-out ceremony was held to mark the milestone, with completion of the entire complex scheduled for early 2026.

Echo Investment has secured refinancing worth €61.4 million for the Libero Katowice shopping center. The loan was granted by a consortium consisting of Bank Pekao S.A. and PKO Bank Polski S.A. The entire retail space at Libero is leased – the center features over 150 stores and service outlets.

The Wing Group recorded sales close to €300 million during 2024 over commercial and residential transactions across Germany, Poland and Hungary.