Dimand's total portfolio developed and managed by the Group (Assets under Management - AuM), through the Company, subsidiaries, and joint ventures, consisted of 20 projects in various stages of completion, in urban areas throughout Greece, with uses of offices, logistics, residential and hotel complexes, luxury homes as well as and mixed uses. As of December 31, 2023, the total estimated gross development value (GDV) upon completion amounted to c. €1,194.9mn (31.12.2022: 19 investment projects with a GDV €915.2 mn).
The fair value of the Group’s investment properties (incl. inventories) amounted on
December 31, 2023, to €167.5mn vs €97.0mn as of December 31, 2022, and the fair value
of the investments in joint ventures1 amounted on December 31, 2023, to €53.2mn vs
€37.3mn as of December 31, 2022.
Cash and cash equivalents, as of December 31, 2023, amounted to €12.4mn vs €10.0mn
as of December 31, 2022.
As of December 31, 2023, net borrowings of the Group amounted to €67.0mn (31.12.2022:
€35.8mn).
During 2023, the Group and the Company continued to implement its investment plan by securing key properties, such as, indicatively, a) the acquisition of an industrial complex (former facilities of the Athenian Papermill) on a plot of c. 49,340 sq.m. located on Hartergaton, Iera Odos and Agios Polykarpos streets in the area of Votanikos, Athens.
According to the business plan, a modern mixed-use complex will be developed, as per
the standards of the LEED certificate for bioclimatic buildings of high energy class. b) the
acquisition of properties of the historic building of the former department store MINION
in Omonia, which will host offices and shops with specifications based on the standard
LEED sustainable development system, while residences will be created in an independent
building on Dorou and Satovriandou streets, contributing significantly to the revitalization
of the city center.
