Plenty funds available for real estate investments in Greece, Ten Brinke executive noted during the 15th REDBF
The new trend in real estate is the commercial parks, the head of the Greek arm of Ten Brinke Mr. Fotis Gioftsios said during the 15th RED Business Forum. While, tourism Projects are also comprised in the company's investment interests.
Mr. Fotis Gioftsios, President & CEO of Ten Brinke Hellas, has signaled optimistic developments for investments in the Greek real estate industry, speaking in the 15th RED Business Forum. Mr. Gioftsios noted that in the short run there will be available investment funds in the market not only from banks but also by private investors.
The Dutch group reaches 120 years of business life this year, but in the European market it is relatively "new" with almost 15 years of presence. The company is implementing, as Mr. Gioftsios said, a rich investment program in the Greek market with the last 3 years having increased rates.
As he pointed out, the new trend of the real estate market is the commercial parks for which there is a strong demand, however, the company also focuses on warehouses, having developed in the area of Thriasio a distribution center of 145 acres, as an investment property in Grivalia, rented by top brand names such as Public and the transport company Orpheas Veinoglou.
According to the head of the arm of the Dutch group in Greece, the pipeline of developments reaches 180,000 sq.m. regarding the logistics sector, the 56,000 sq.m. in residential projects, the 93,000 sq.m. in the commercial parks of 20,000 sq.m. in tourist properties and 56,000 sq.m. commercial real estate.
The "microscope" of the company includes, however, the tourist properties with Ten Brinke looking at the large markets of Crete and Rhodes, where a tourist project has already started.
"There is a huge pool of investors -that so far trust the traditional European markets but the increase in energy prices, low yields and high costs are keeping them aside the Greek real estate market which until now had not been comprised in their immediate investment plans," Mr. Gioftsios said. In the general climate, of course, he stressed, the positive assessments of foreign companies for the Greek economy also help, which enhance both reliability and stability.