Noval Property announces that, through the company “THE GRID SA” (shareholding: 50% Noval Property, 50% Brook Lane Capital), has acquired, following a bidding process and pursuant to decision no.1417/2021 of the Single Member Court of First Instance of Athens, a land plot of approx. 16.000 sq.m, located at 10-12 Himarras Str. and Amaroussiou Halandriou Str. in Maroussi (former Kodak property).
A modern complex of green office buildings with a total Gross Buildable Area of approx. 49,000 sq.m. will be developed, adopting sustainable development and bioclimatic design principles and is expected to receive LEED certification. The Design Group selection process is currently ongoing.
The acquisition price amounted to 28.6 million euros and was funded by a combination of bank debt to “THE GRID SA” from Piraeus Bank and equity.
The funds attributable to Noval Property for the construction of the project shall be drawn by Noval Property’s Green Bond, which was listed for trading in the Fixed Income Securities Category of the Regulated Market of the Athens Stock Exchange on 7th December 2021.
December 8th, 2021
About Noval Property
Noval Property is the second largest REIC in Greece. Noval Property’s real estate portfolio, which includes 43 properties located mainly in Greece and selectively in Bulgaria, consists of office buildings, shopping centres, hotels and former industrial buildings with a total built-up area of 453,000 square meters. The value of the properties on 30.06.2021 amounted to EUR 389.7 million. Noval Property is a subsidiary of Viohalco in the real estate sector. For more information, please visit our corporate website: www.noval-property.com