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Noval Property: Investment barrage of 300 million euros and the stock market in the background

By Eleni Bota

Noval Property is launching significant investments of 300 million euros until 2025, which is also preparing its entry to the Stock Exchange in the last quarter of the year, with the final date being November 15.

The company’s goal is to increase its portfolio from 425 million euros to 480 million euros.

Already, the company has a series of major projects underway, including, in partnership with Brooklane Capital, a modern bioclimatic office complex on the former Kodak property, with a built-up area of ​​over 50,000 sq.m.

Also, a new bioclimatic office building on Heimaras Street in Maroussi, two logistics facilities in Mandra, Attica and Heraklion, Crete respectively.

In addition, an office and apartment building in Metz, which is expected to start at the end of 2022 and be completed within 2024, as well as a residential project in the northern suburbs of Athens.

The aim is for all the above projects to receive LEED or BREEAM international environmental certifications.

Although only 2.5 years old, more than 20% of the company’s portfolio consists of certified green buildings. And this percentage is expected to increase significantly in the coming years, as most of the projects it has in progress involve green buildings.

At the same time, the company, in the context of diversified developments, has already started investing in urban regeneration, such as for example the development of the old Viohalco facilities on Piraeus Street, on an area of ​​more than 70 acres, with mixed uses, such as a hotel, offices , housing, culture, etc.

Also, in expansions to the shopping centers and parks it owns as well as investments in commercial parks in the region. Already, within 2021 it has completed the River West Open expansion of the River West shopping center, creating a new generation shopping center.

Source: Capital

Published by
Derek Black

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