Until the end of 2022 the entry of Trade Estate on the ATHEX

of Eleni Botas

By the end of the year, Trade Estates AEEAP is expected to premiere on the Stock Exchange, which is the arm in the development of real estate of the company Fourlis, as the CEO of the group stressed yesterday during the presentation of the new logistics center in Inofyta “we have room to enter by mid-2023, but we’ll do the introduction sooner. ”

According to Mr. Fourlis, the company is looking for an investor who will enter the group with a double-digit percentage (around 15%), in order to strengthen the company in terms of capital.

The entry of the strategic investor will be done with a private placement, a percentage of 20% to 25% will be allocated during the process of listing of the company on the Stock Exchange, while the ultimate goal of the group is to limit its participation below 50%.

On the sidelines of the presentation of the new investment of 12 million euros in the logistics center of the group in Oinofyta, the CEO of the Group stated that it aims to further acquire real estate, having a plan of additional investments of 200 million euros.

According to him, a plot of land in Chalandri (Douk. Plakentias) was recently acquired in collaboration with Ten Brinke, where big box stores will be developed, leased to AB Vassilopoulos and McDonalds. At the same time, AEEAP is considering the acquisition of two more retail parks in the region and a new logistics facility.

Regarding the investment in Inofyta, as it became known, it has been designed with the perspective to cover the needs of Intersport for the next 6 to 7 years.

It is noted that the center is scalable and can increase its capacity by up to 40%.

A corresponding large and more complex investment for IKEA in Schimatari with a capacity of 42,000 sq.m. is in progress. mainly to serve electronic orders but also the new concept that IKEA has, ie the smaller stores.

“We hope that this facility will be ready in September as we are on schedule,” he said.

Regarding Trade Estates AEAP, as mentioned, it started with a dowry from the group with large stores (5 IKEA) and a logistic center.

“We decided to seize these properties to build an AEAP because we believe that there was a great opportunity in Greece to build an AEAP that is oriented only to commercial parks and logistics in the retail sector.

We made purchases from third parties (Thessaloniki, Piraeus) and we have reached from 185 million which was the initial split to approach 300 million with the purchases we have made. We have in front of us an investment plan of another 200 million for the next five years.

A large part of them are the next two years. Specifically, it is the commercial park of Heraklion, Patras, Spata and Elliniko and behind these 4 commercial parks we are working for a new third party logistics center in retail.

Our AEAP is the third largest in terms of size and the only one oriented to a specific object. “If a new large chain wants to come to Greece, we can give it points of sale throughout the country, because we will soon announce two more acquisitions of existing commercial parks in Greece in provincial cities,” said Mr. Fourlis.