The real estate sectors that Intrakat has placed their bets
The real estate sectors that Intrakat has placed their bets
  Investments  |  REIC  |  Economy  |  Greece

The real estate sectors that Intrakat has placed their bets

An increase in the backlog of projects is expected, help in technical proficiency and equipment from Aktor.
RE+D magazine

The development of investment products in the fields of tourist infrastructure in high-end destinations as well as offices and other commercial spaces is envisaged by Intrakat's planning in the Real Estate sector, which is not high on the company's agenda.

According to what the company's CEO Mr. Alexandros Exarchou said in a presentation of the financial results to analysts, Intrakat's development strategy emphasizes in PPP projects, RES projects and concessions.

According to Mr. Exarchou "the circularity of constructions requires sustainable projects with stable revenue streams that provide profits to shareholders". 

From the company's real estate portfolio, the 43-room 5* Milos Hotel, in which the Milos restaurant operates, is in full operation, while the reconstruction of the 9-story "green" office building with a total surface area of 7,300 sq.m. "Ippokratous Offices" on Str. Hippocrates in the center of Athens. The licensing process for the 4 plots of land on the Upper Side of Mykonos (acquired through a subsidiary) is expected to be completed in the next period, on which 250-bed staff residences will be developed. Additionally, on 06.10.2022, the acquisition of a 17-room hotel accommodation in Mykonos Town was completed for the purpose of renovating it and converting it into a luxury boutique hotel, for an amount of €10.6 million.

The deal with Aktor

Addressing questions about the deal with Aktor and the integration into Intrakat, Mr. Exarchou emphasized that no definitive decisions have been made on the transformation model, something that will be done once the final "green light" is received from the Competition Commission. 

Mr. Exarchou emphasized that one of the main reasons Intrakat proceeded to acquire the construction arm of the Ellactor group was to strengthen its technical competence and equipment in order to respond to the historically high backlog which, as he said, is predicted to increase.

New major projects signed early 2023:

  • PPP project "Kalamata - Pylos" worth €95.6 million
  • "BOAK" PPP project worth €47.2 million
  • Development and Improvement of the Infrastructure of the New Paros Airport, €33.4 million
  • Construction of an artificial barrier and related projects in Evros, worth €27.3 million.
  • Marina Tower Hellinikon of €140 million