The value of the portfolio as of 31.12.2019 was 298.5 million euros, the company said in an announcement released on Tuesday.
During 2019, the commercial assets of Noval Property, such as the River West shopping centre, the Mare West retail park and the Wyndham Grand Athens hotel building, continued their upward course.
In parallel, a number of development projects were completed during 2019, such as The Orbit office complex on Kifissias Avenue in Athens (total built-up area of 39,650 sq.m), which is expected to be LEED certified for Core & Shell at Platinum level, and The Butterfly office building at Chalandri (total built-up area 10,150 sq.m), which was LEED certified for Core & Shell at Gold level, both of which are already tenanted, as well as the athleisure park of a total area of 6,000 sq.m. at the Mare West retail park.
In addition, a significant number of development projects is in progress, such as the extension of the River West shopping centre (by a total built-up area of c. 25,000 sq.m) which is at an advanced stage of construction, as well as the urban regeneration of the former industrial asset (with an area of c. 73,000 sq.m) at 252 Pireos Street in Athens, that was awarded the Strategic Investment status at the end of 2019.
Noval Property was formed as a Real Estate Investment Company (REIC) on 15th October 2019, following the award of the corresponding operating license by the Hellenic Capital Markets Commission.
