Echo offloads former Cracovia hotel building in Kraków

Developer Echo Investment has sold the former Cracovia hotel building in Kraków to the Ministry of Culture and National Heritage for PLN 29 million. The property will be owned by the National Museum in Kraków and is expected to house a design and architecture gallery in the future. Echo acquired the Cracovia building in 2011 and was planning to develop an office complex on the site. However, the planned project was never launched, partly due to the fact that part of the property was entered in the historic buildings register. “As a developer, we create destinations where people want to spend time; we create space to live, to work, to entertain, but also space that inspires, fosters education and development. While Cracovia is not our project anymore, I’m very happy that, together with the Ministry of Culture and National Heritage, we have succeeded in finding a solution that will allow the building to regain its past glory,” said Nicklas Lindberg, the CEO of Echo Investment.