The fair value of Noval Property’s investment portfolio is EUR 609 million as of 30th June 2024

Aug 29, 2024 | Press Corner

Noval Property (the “Company”), pursuant to Hellenic Capital Market Commission’s decision no. 8/259/19-12-2002, as amended and currently in force, publishes the Company’s Investment Schedule dated 30th June 2024, which has been posted on the company’s website www.noval-property.com

The fair value of Noval Property’s investment portfolio1 reached EUR 609 million as of 30th June 2024, representing an increase of EUR 38 million (7% increase) when compared to the portfolio’s fair value at 31st December 2023 (EUR 571 million).

In the first half of 2024, Noval Property continued to actively manage its income producing assets, as well as progressing on the upgrade and development program for a number of assets in its portfolio. During this period the new logistics centre in Mandra was delivered to the tenant, while the Company has already preleased c. 30% of the residential part of its mixed-use property under redevelopment at 40-42 Ardittou Street in Athens. Furthermore, The Grid S.A., a joint venture between Noval Property and Brook Lane Capital, signed a lease agreement with EY in Greece to lease the office space of two out of the four buildings of the “The Grid” office campus in Marousi, Athens.

Following the successful listing on the Athens Stock Exchange in June 2024, the Company continues to execute its investment strategy, focusing on enhancing its portfolio with modern, high quality and environmentally sustainable properties.

Athens, Thursday 29 August 2024

  1. The fair value of the investment portfolio includes the loan and participation in a real estate company

About Noval Property

Noval Property is the second largest Greek REIC, listed on the Athens Stock Exchange. The investment portfolio of Noval Property, which comprises 60 properties (1 through a participation in a real estate company) located mostly in Greece and selectively in Bulgaria, includes office buildings, shopping centres, retail parks, logistics, residential, hospitality and industrial assets of total leasable area of approx. 343.000 sq.m.. The fair value of Noval Property’s investment portfolio reached EUR 609 million as of 30th June 2024. Noval Property is a subsidiary of Viohalco in the real estate sector.

For more information, you may visit our web site www.noval-property.com