As of June 30,2022, the total portfolio developed and managed by the Group (through the Company, subsidiaries and joint ventures) consisted of 18 investment projects in various stages of completion, in urban areas throughout Greece, with uses of offices, residential and hotel complexes, luxury homes as well as and mixed uses.
The total estimated gross development value (GDV) upon completion as of June 30, 2022, amounted to c. €666.2mn, based on appraisals performed by independent certified valuers (31.12.2021: 15 investment projects with a GDV €497.6 mn).
The fair value of the Group’s investment properties amounted on June 30, 2022, to €84.0mn vs €50.3mn as of December 31, 2021, and the fair value of the investments in joint ventures amounted on June 30, 2022, to €35.2mn vs €37.5mn as of December 31, 2021.
As of June 30, 2022, net borrowings of the Group amounted to €74.8mn (31.12.2021: €39.7mn).
