As of the end of June 2025, the Group’s portfolio included eight investment properties at various stages of development—offices, residences, hotel units, logistics, and mixed-use buildings in urban areas across Greece—with a total fair value of approximately €164.2 million and an estimated gross development value (GDV) of around €614.7 million. Additionally, the Group participated in joint ventures managing six investment projects, with a combined fair value of €199.6 million and an estimated GDV of €417.8 million.
One of the Group’s key projects is the property in Kato Patisia, Athens, where on a plot of 2,082 sqm and an existing building of 11,653 sqm, the subsidiary Random S.A. developed a modern bioclimatic office building. The project was completed and, as of June 27, 2025, has been fully leased to ELTA (Hellenic Post).
In the Omonia area, the historic "MINION" property, totaling 18,580 sqm, is being developed by subsidiaries Alkanor S.A. and Dorou Residencies S.A. Buildings B, C, D, and E, with a combined area of 13,787 sqm, have already been renovated into a bioclimatic mixed-use complex and are fully leased to reputable tenants, having received LEED Gold certification. Building A, with an area of 4,778 sqm, was transferred to the newly established subsidiary Dorou Residencies S.A. (February 27, 2025), which plans to develop it as a residential complex for sale and/or lease.
In Piraeus, the subsidiary Piraeus Regeneration 138 S.A. owns a plot of 1,304 sqm, on which a 97-room hotel totaling 6,170 sqm is planned for development and leasing.
In Thessaloniki, the subsidiary Anchialos Real Estate S.A. holds a 355,648 sqm site at the 15th kilometer of the Thessaloniki–Edessa national road. The business plan foresees the creation of a modern logistics complex of 120,000 sqm, with provisions for the installation of photovoltaic systems on the roofs following a related study.
Also in Thessaloniki, at the city’s western entrance on 26th October Street, the subsidiary Filma Estate S.A. owns a property comprising the former FIX factory, with a total area of 23,912 sqm, along with an adjacent plot of 2,699 sqm. The company has proceeded with subdividing the property into two vertical properties, aiming to develop a high-energy-efficiency mixed-use complex, certified with LEED Gold. On August 7, 2025, the subsidiary sold one of the vertical properties, totaling 6,900 sqm, to the Ministry of Culture, as it concerned a listed building designated as a “historic listed monument.”
Another significant project concerns the property in the Elaionas area of Athens, the former “Athens Paper Mill,” acquired by the subsidiary IQ Athens S.A. on February 28, 2023. The 49,340 sqm plot is intended for the development of a modern mixed-use complex, designed according to international bioclimatic standards and LEED certification.
Finally, in the Nea Sevastia area of Drama prefecture, the subsidiary Dramar S.A. has acquired three plots totaling 304,038 sqm. On August 1, 2025, it further acquired an adjacent plot of 632,226 sqm, significantly increasing the land area available for development. Specific uses for this property have not yet been announced.
