Accroding to the company's management during the Ordinary General Meeting of shareholders, by the end of 2024 the retail park based in Patra with a total area of 17,100 sqm will be operational. The property which is fully leased to third parties will comprise a medium-sized IKEA store.
A year later, the construction of the retail park in Heraklion, Crete is expected to be completed, while the retail park in Elliniko with the creation of big boxes of the order of 30,000 sq.m. is also in the pipeline. in total.
The company is also proceeding with investments in the remodeling of the commercial park it has in Ioannina after the acquisition of additional premises.
At the same time, the company is maturing the exploitation of a neighboring property that it had before the acquisition of the Smart Park in Spata with the aim of its future exploitation as an additional commercial space, while at the same time accelerating the procedures for the logistics investment of InterIKEA in Elefsina.
As far as logistics is concerned, RECI is implementing a new center of 56,000 sq.m. in Elefsina with tenant Kotsovolos and a completion horizon of the third quarter of 2025. It also promotes projects to improve the existing logistics center of Trade Logistics.
The managing director of the company, Dimitris Papoulis, reported to the General Assembly that the annual income from rents will be formed at the end of 2024 at €33-€35 million, i.e. increased by 24%-31% on an annual basis. By 2028, the company will have a portfolio worth around €740 million, implementing an investment plan that reaches €207 million.
Dividend distribution
The distribution of a net dividend of €0.08 per share, for a total amount of €9,642,301.68, was decided by the Annual General Meeting of REIC. Wednesday, June 26, 2024 was set as the starting date for the payment of the dividend.
