Trade Estates REIC estimated that it will have a real estate portfolio with a Gross Asset Value of 720-760 million euros by 2028 (compared to 541.5 million at the end of 2024) as it is planning investments of 172.2 million euros.
The president of REIC and Fourlis Holdings, Vasilis Fourlis, said at the presentation of the results of the previous fiscal year, that the goal is the creation of a portfolio worth 1 billion euros in 2030-2031.
Real estate
The real estate categories in which it operates (retail park and logistics) do not change, however, it is likely to expand to Romania, the real estate market of which is closely monitored by the management (in addition to Greece, Trade has properties in Cyprus and Bulgaria).
Fourlis noted that Trade has a clear strategy in the real estate it chooses and now has a real dispersion in its share, 30.72%, following the disposal through private placement of 16% of its share capital.
Investments
Trade’s investments include the creation of the Inter IKEA International Distribution Center in Aspropyrgos (investment 47.4 million) to be completed by the end of the year and the new logistics center in Elefsina that will be leased to Kotsovolos (46.3 million) and expected to completed by the end of 2026 early 2027.
Regarding the investment in a retail park in Elliniko (75 million), the management of REIC stated that its operation is planned for the end of 2028, following Lamda’s notification of a 12-month delay in the implementation of the infrastructure.
Regarding the property in Spata, opposite Smart Park, Trade has signed a preliminary agreement to sell its share to its co-owner, Ten Brinke (one of the largest developers in the country).
According to sources, Ten Brinke has agreed with the Data In Scale consortium (45% PPC and 55% Damac from the United Arab Emirates) to build a data center on this property. The purchase and sale is estimated to be completed in 2025.
