Noval Property participated at the 15th Red Business Forum, held on May 9-10 at the Zappeion Megaron, which focused on the real estate market’s prospects and challenges, following the changes brought about by the pandemic. Noval Property was represented by the CEO of the company, Mr. Panagiotis Kapetanakos, and the CFO, Mrs. Katerina Apergi.
Mr. Kapetanakos participated on the “Building performance / Establishing Trust” panel together with other heads of the largest Greek real estate companies. Speaking about the company’s strong belief in the sustainable development model, he said: “We firmly believe that the future lies in sustainability. Therefore we always focus on green buildings that comply with the strictest environmental standards which in turn upgrade local communities.”
In more detail, referring to Noval Property’s broader strategic planning and achievements, Mr. Kapetanakos noted that before the pandemic and during it, we focused on green buildings with sustainability specifications, because we view that this is the future. We have focused on areas with supply gaps, such as modern green and sustainable office spaces, urban renewal, new generation shopping malls, logistics and residential. More recent examples include the famous “The Orbit” office building located on Kifissias Avenue which is LEED certified at Platinum level and v4 for Building Design and Construction: Core & Shell. At the same time, the expansion of the River West shopping center, River West Open, which recently started its commercial operation, has created a hybrid, new generation shopping centre that combines an indoor and outdoor experience with greenery and water elements. Overall, we are continuing our investment program, which amounts to over €300 million.
Ms. Apergi, CFO of the company, participated on the “Real assets as an investment asset class in the post pandemic era” panel. Referring to the prospects of the real estate industry in the post-pandemic era, she stressed that the real estate industry was not significantly affected by the pandemic. On the contrary, there is a climate of optimism, as new trends are emerging and the market is constantly creating demand for new, sustainable products, which will serve to drastically reduce our energy footprint.

Athens, 19 May 2022

About Noval Property

Noval Property is the second largest REIC in Greece. Noval Property’s real estate portfolio, which includes 44 properties (1 through a joint venture in a real estate company) mainly in Greece and selectively in Bulgaria, consists of office buildings, commercial premises, tourist properties and warehouses with a total built-up area of approximately 453,000 sqm. The valuation of the investment properties and participations on 31.12.2021 totaled approximately 425 million Euros. Noval Property is a subsidiary of Viohalco in the real estate industry. For more information, please visit our corporate website at

For more information, please visit our corporate website at