Centric exits joint investment with Ten Brinke at The Ellinikon

The partnership announced in early February (5 February 2026) concerned the development of residential units on two plots of land with a combined buildable area of 15,673 sq.m. at The Ellinikon. Under the agreement, Centric was to acquire a 50% stake in NELLENCO, a subsidiary of Ten Brinke, which would be responsible for the execution of the project.

As part of the investment plan, with a total budget of approximately €100 million, the parties entered into negotiations regarding the detailed terms and conditions for the implementation of the project, taking into account the evolving market environment.

However, the discussions did not result in a definitive agreement, and the parties consequently decided to terminate the collaboration by mutual consent.

Under the terms of the settlement, Ten Brinke will pay Centric compensation of €1.75 million and will assume full responsibility for the implementation of the project.

Centric’s core business is in the entertainment sector. However, the company has also established a presence in the real estate market in recent years by participating in electronic property auctions, through which it has acquired a hotel property in Arachova, land plots in Metamorfosi, and office buildings in central Athens.