By Eleni Bota
Prodea proceeded to lease its new building at 44 Syngrou Avenue.
According to information, the building was leased to the audit firm KPMG. The design of the building, named “The Wave”, has been undertaken by Tsolakis Architects.
The property has an area of 5,600 sq.m., has a view of the Acropolis, is located very close to the Syngrou-Fix metro station and is being reconstructed by the technical company of the Kopelouzo group, Redex. The goal is the completion of the project at the end of 2022 and subsequently the certification of Leed Gold.
It should be noted that initially one of the proposals that had been considered for the utilization of the building was its conversion into a hotel, but this scenario was abandoned given the lack of modern office spaces in the center of Athens.
The value of the building is estimated at 19 million euros and belongs to the green portfolio of 505 million, an amount that corresponds to 38% of the total value of Prodea’s office buildings.
As the managing director of Aristotelis Karytinos recently stated at the AEEAP general assembly, Prodea is launching investments of 600 million euros with the aim of enriching its portfolio with commercial properties with bioclimatic characteristics. From the amount of 600 million euros, which corresponds to the investment cost, approximately 100-150 million euros will be invested by the end of this year.
Most of its investments – at a rate of 87% – are in certified “green” properties, which will strengthen the environmental profile of all its investment properties.
Of the new investments, 66% corresponds to agreements that have been concluded, 17% is about to be contracted and the remaining 17% is at an initial stage. According to the estimates of the company’s management, from the existing new projects as well as the developments, it is expected already within the second half of the current year to have additional annualized rents of the order of 10.7 million euros, while by the first half of 2025 with the completion and full leasing of the projects, the rents may reach 26.1 million euros.
Source: Capital
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