Brand new properties in Noval's portfolio
The pro forma valuation value of its portfolio on 31.12.2020 was €364.6 million.
Noval Property is the second largest REIC in Greece with a portfolio of 42 properties, most of which are located in Greece.
The portfolio includes office buildings, shopping malls, hotels and former industrial buildings with a total built-up area of c.430,000 sqm.
The pro forma valuation value of its portfolio on 31.12.2020 was €364.6 million, showing an increase of 22% vs. 31.12.2019.
Despite the adverse conditions brought about by the Covid-19 pandemic during 2020, the following took place as part of Noval Property’s investment program:
The Orbit office complex located on Kifissias Avenue in Athens (total built-up area 39,650 sqm.) became commercially operational; this is the first project of its kind in Greece that has been certified according to LEED v4 (PLATINUM level).
The expansion of the River West shopping center (which was expanded by a total of approximately 25,000 sqm. of built-up area); its completion and the beginning of its commercial operation are scheduled for the 2nd half of 2021.