What froze AB Vassilopoulos’ emblematic investment in Maroussi

Of George Lampiris

“Brake” in the construction work of the most emblematic of the three large stores that AB Vassilopoulos is currently preparing, comes to put according to information Capital.grthe increased cost of building materials.

As we are informed, the store prepared by the chain on the plot of the Mimikopoulos Foundation in the area of ​​Maroussi, with a total built-up area of ​​5,000 sq.m. in parking lots and a store area, has been put on hold for the time being as its construction work has been suspended.

According to the same information, the construction company that undertook the project, has requested the cessation of work, waiting for the contract to be updated based on current tariff data, as the increase in materials has reached as much as 30% on a case-by-case basis.

Archeology is an obstacle

This is a store, the designs for which came directly from the Ahold Delhaize group to be executed in Greece. It will be a point of sale of special and outstanding construction value, with high quality characteristics.

The store at the Mimikopoulou Foundation was to be completed according to the schedule during the current period, however this did not happen.

A role in the delay of the works was the approval of the progress of the works by the Archaeological Service, since in the plot were found nuggets of clay pots from old pottery that were in the past widely established in Maroussi.

In fact, the procedures from the point of view of archeology took a period of four months, with the result that the advent of the war in the meantime further increased the construction costs.

The new store in Piraeus has been completed

On the other hand, however, another of the investments that AB Vassilopoulos was implementing at the same time was completed, with the operation of a new store on Piraeus Street in the commercial park undertaken by Ten Brinke.

We remind you that the development of the commercial park was started by the Dutch real estate company and then acquired by Trate Estates AEEAP of the Fourlis group.

The inauguration of this store took place just a week ago, while in the same shopping complex on Piraeus Street is housed a store of the toy company, Moustakas. It is also a mega AB Vassilopoulos like the one in Maroussi, with a sale space of 2,500 sq.m.

Third big store in the ten Brinke property that the Fourli group has agreed to buy

In the plan of AB Vassilopoulos is a third large store, which will be located in the shopping complex that is also created by Ten Brinke in Kennedy Square in Chalandri and which has been bought in this case by Trade Estates of the Fourlis group.

These are three planned investment moves, which will add momentum with new big stores in the portfolio of the multinational supermarket chain interests.

Plunge in sales in March

At the same time, however, in terms of sales, the samples are not particularly encouraging for the market. As far as we know, March was a downturn for all supermarket chains.

For its part, AB Vassilopoulos is said to have lost in the third month of the year, a percentage of 8% of the corresponding sales it had in March 2021, according to the same information.

This percentage can include the inflationary pressures of each chain and the economy as a whole, given that food inflation was at 5% last month.

This fact therefore makes double the losses for the second largest supermarket chain in Greece.