NOVAL's listing has been delayed for 2022
NOVAL's listing has been delayed for 2022
  REIC

NOVAL's listing has been delayed for 2022

Kodak's premises transfer process is expected to be concluded shortly.
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Eirini Theofanidou
01.10.2021

The Board of Directors of the Hellenic Capital Market Commission has decided to extend the deadline for Noval Property's listing in the Athens Stock Exchange for one year.

According to the company's management and semi-annual report,  it is estimated that the transfer process will be completed shortly and the property of "THE GRID SA" will become the owner of the property of the former Kodak located on Heimarra and Maroussi - Halandriou streets in Maroussi with an area of ​​16,109.77 sqm.

In this way will be able to begin the preparatory works for the property's development and utilization. It is noted that in cooperation with Brooklane, the company aims to develop a class A office park in the "green" standards of the other two complexes that it has in its portfolio. According to the company's plans, an office complex of approximately 20,000 square meters with bioclimatic characteristics and "Gold Leed" certification will be created.

The company records a significant upward trend despite the adverse conditions in the real estate market both in Greece and abroad. Something that is reflected in the financial figures of the first half of 2021 that he announced. It should also be noted that Noval has a portfolio with a significant dispersion in terms of the type of assets, their size, their condition and their location which makes it particularly resilient to the challenges that arise.

Regarding these special market conditions, the company emphasizes in its prospectus that "they not only caused challenges that the affected companies had to meet, but also created new opportunities for growth, as reflected in the recent trends that have prevailed and are expected in the market." real estate ".