Logistics, “inexperienced” workplaces and high-end vacationer properties are the three areas that Prodea Investments is at present focusing its growth plan on, whereas on the similar time the administration, in addition to the principle shareholders, are working to strengthen the dispersion of shares of AEEAP. As well as, the listed firm intends to promote particular person properties of its portfolio, such because the just lately acquired constructing that housed the leisure middle Athens Enviornment on Piraeus Road 166 – 172.
Bioclimatic workplaces in “Aidonakia”
Prodea is at present “working” the licensing procedures and the research for the event of an workplace campus on the plot of land, the place the amusement park “Aidonakia” beforehand operated, in Maroussi.
Within the mentioned property, which has been merged with the opposite space acquired by the listed firm for the reason that starting of 2022, a bioclimatic workplace complicated of roughly 19,000 sq.m. can be developed, with an estimated superstructure space of 14-15 thousand sq.m.
We remind you that two years in the past Prodea had purchased the property, the place prior to now the Church of Jehovah’s Witnesses was housed. The 5 neighboring plots, with a complete space of 10.4 acres, are surrounded by Kifissias Avenue and Dionysos Road in Marousi.
In search of vacationer items
The managing director of Prodea, Aris Karytinos
Along with “inexperienced” workplaces, Prodea emphasizes the event of the high-end tourism actual property sector.
Therefore, he’s searching for items in Greece, which have the prospect of being upgraded to five-star resorts and motels.
On the similar time, the entire renovation of the Bellevue Cortina d’Ampezzo resort within the coronary heart of northern Italy is underway in preparation for the 2026 Winter Olympics. Within the upgraded resort, particular emphasis will even be positioned on the F&B half, as it’s deliberate to host a Zuma restaurant.
After the acquisition of management of the corporate MHV Mediterranean Hospitality Enterprise Plc, which is now the principle funding car for investments in resort properties, the worth of Prodea’s vacationer properties exceeds 620 million euros.
“Inexperienced” logistics
On the similar time, the corporate is specializing in rising investments within the logistics sector.
On this context, on April 4, 2024, the corporate THRIASEUS S.A. proceeded with the acquisition of plots in Aspropyrgos, whereas the completion of the acquisition of yet one more plot for which a preliminary settlement has been signed stays.
The entire plots in query relate to the additional enlargement of the adjoining space which has already been acquired by THRIASEYS SA. with the goal of constructing a contemporary logistics middle of roughly 100,000 sq.m., one of many largest within the nation.
“Athens Enviornment” on the market
Concerning the leisure middle “Athens Enviornment”, which two months in the past handed into the possession of Prodea within the context of a related settlement with the collectors and the household of the businessman Yiannis Papatheoharis, the administration of AEEAP, in keeping with info, is contemplating all prospects even promoting it as it’s, whether it is judged that this selection is extra advantageous than retaining it.
Nevertheless, varied situations have been thought-about for the utilization of the property, from its conversion into workplace areas, and the event of combined makes use of with a convention middle, as much as the change of use right into a resort.
Nevertheless, the demand expressed by potential consumers who will use it as an leisure middle is alleged to be pushing Prodea to go for the sale.
The property on Piraeus Road 166 – 172 handed into the management of AEEAP in trade for an quantity of seven million euros with the truthful worth, on the date of acquisition, amounting to 7.03 million euros.
We remind you that the Athens Enviornment was created in 2004, designed to host 3,000 folks. Resounding names of the Greek music scene had been hosted on occasion on its large dance flooring. Ten years later, it was renamed the Pantheon and became a 1,600-seat theater that hosted varied musicals. In 2017, it was once more named Athens Enviornment and was as soon as once more used as a nightclub.
Because the starting of the yr and till April 18, Prodea has collected a complete of 29.13 million euros from gross sales of particular person properties in its portfolio, in Greece, Cyprus and Italy, whereas inside 2023 the group has made agreements for the sale of properties (instantly or not directly) for a complete worth of 274.3 million euros. On the similar time, final yr it accomplished the acquisition of properties with a complete worth of 45.5 million euros.
The goal is to strengthen the free float
Lastly, the trouble to extend the corporate’s free float continues, as OT has beforehand reported, with administration and key shareholders contemplating the allocation of a low single-digit price. At the moment Prodea’s free float price has reached 13%.
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