Noval Property participated in the 27th Prodexpo, held on October 14–15 at the Athens Conservatoire, contributing significantly to the discussion on the latest developments and future prospects of the Greek real estate market.
During the conference, Ms Angeliki Andreou, Retail Senior Director at Noval Property, joined Mr Pavlos Pantazopoulos, journalist at Naftemporiki TV, for the panel “Retail Destinations: Rethinking Value, Relevance and Experience” and shared her perspective on the changes currently transforming the retail sector and on how modern retail destinations are redefining their role and value.
During the discussion, Ms Andreou mentioned among other matters, that the Greek retail sector is undergoing a period of significant transformation. Organised shopping centres and retail parks are recording strong performance and high demand, while consumers remain increasingly selective and sensitive to their disposable income. She also pointed out that shopping centres in Greece continue to offer significant growth potential, both because their penetration remains relatively low compared with more mature European markets and because of their expanding role as integrated experience-led destinations.
A central part of her remarks was that every retail destination should be developed as a brand with distinct identity, a well-defined promise and a consistent relationship with its visitors. This identity is expressed at every touchpoint, from architecture and tenant mix, to events, customer service and daily operations. The aim is to provide a seamless experience, that enhances customer satisfaction, encourages repeat visits and, ultimately, fosters loyalty.
Regarding the relationship between property owners and retailers, Ms Andreou focused on the shift from a purely commercial relationship to a meaningful strategic partnership centred on the consumer. Sharing consumer insights and collaborating on marketing, omnichannel and customer experience can drive both sales of the respective brands as well as the overall performance of the property.
As she highlighted, this approach also lies at the heart of Noval Property’s strategy for River West retail hub in Athens’ western suburbs and Mare West retail park in Corinth. Loyalty to both destinations is the result of a series of positive experiences and is built when customers feel that the brand delivers value consistently. As Ms Andreou emphasized in her closing remarks, “at River West and Mare West, this is precisely where our strength lies: in the trust of our consumers.”