High priority
EF Rank Progress, a residential and commercial developer based in Legnica, is building four major shopping centers across Poland along with a raft of residential and office developments in Legnica and the nearby city of Wrocław.
EF Rank Progress, with over two dozen retail projects completed for companies like Tesco and Carrefour, delivered the first phase of its own Galeria Piastów in Legnica last fall. The developer is currently working on the second phase of the zł.135 million shopping center. Upon completion, the complex will offer a total 55,000 sqm by the end of 2009. EF Rank Progress is also building the Eden shopping center in Zgorzelec (10,000 sqm), scheduled for completion in mid-2008, along with the Galeria Tęcza in Kalisz (23,000 sqm) and Galeria Futura in Zamoć (33,000 sqm), both to be completed by the end of 2009.
The developer is also active in the residential sector, having begun the design phase for a mixed-use development on the site of the former Popowice port in Wrocław. The development is expected to offer some 75,000 sqm of usable area when it is completed. In addition, EF Rank Progress is developing a 33,000-sqm residential development in Legnica, along with an 18,000-sqm class-A office and residential building in the city. The company says it is working in close cooperation with local authorities and residents to creatively develop the full potential of each property.
The total area to be developed by the company by 2010 amounts to over 245,000 sqm through 2010. The firm is also involved in the acquisition and sale of profitable short-term property investments. The company expects to finish the year with a net profit of zł.114 million and plans to greet the new year with a debut on the Warsaw bourse.
The company's co-founders, Andrzej Bartnicki and Jan Mroczka take the company's eponymous goals quite literally. "From the beginning of the firm's existence, progressive development has been at the center of our operations," explained Bartnicki. "By progressive development, we take into consideration not only the value growth of the company, but a wider defintion of progress which includes social progress of the local community along with that of our business partners and future investors who put their money and faith in our company," remarked Bartnicki.
