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land Market News: Greek Real Estate Intelligence

DIMAND acquired land in Thessaloniki to create the largest logistics hub in Northern Greece
More specifically DIMAND acquired, through its subsidiary "APELLOU ESTATE M.A.E.", a land plot with a total area of 355.600 sq.m., 15 km from Thessaloniki on the road to Edessa for a total price of €6 m. The property was formerly owned by the company "VALKAN AKINITA S.A.". The location of the property is privileged, as it is 23 km from the center of Thessaloniki and 16 km from the port of the city. On the property DIMAND will build a Logistics complex with a total area of 120,000 sq.m. The installation of photovoltaic panels for energy production is planned on the roof of the facilities. It is estimated that the total installed capacity of photovoltaic panels will reach 12 MW and the total annual energy produced at 19,200,000 Kwh. The total gross development value of the project upon completion is estimated to be approximately €160 m. The investment is expected to create 200 new jobs during the construction period and 150 permanent jobs during the operation of the facilities. Original Source: Euro2day.gr Adaptation/Summary: Kiki Athanasiadis
 
Land plot in popular touristic area in Crete sold for €1.7 m
The Tsatsaronakis family is the new owner of the seaside area, on the beach “Voulimeni Elafonisos” with a total area of 610807.65 sq.m. The new owners paid AEGEK SA €1.7 m for the land plot. The property is licensed for mild tourist exploitation and is located in an area of special natural beauty. The purchase was made as part of the settlement of part of the debt obligations of AEGEK CONSTRUCTION S.A.  The Tsatsaronakis family, known for its activity in the bakery sector, has launched a great investment in Falassarna with high quality hotel infrastructure, residences and crop development for the production of organic products.  Original Source: eRED.gr Adaptation/Summary: Kiki Athanasiadis    
 
CYPRUS:  REMU sold land plot in Nicosia for €8 m
REMU, the Real Estate Management Unit of the Bank of Cyprus, announced the sale of a property with a total area of ​​almost 11,000 sq.m. next to The Mall of Cyprus. Reportedly the property, currently used as a parking lot, was sold to an investor for an amount close to €8m. The property came to the hands of REMU through the restructuring of the company CTC. The subsidiary of Woolworth Properties Group had announced that as part of the restructuring, it sold the property to the company Jalimo Properties (owned by the Bank of Cyprus), for the amount of €6.3 m. The property is located 20 meters southwest of The Mall of Cyprus and 620 meters west of Nicosia General Hospital. It has a total area of ​​10,890 m2, and benefits from a frontage of 77 meters along Titanon Street and 100 meters along Verginas Street. The special planning zone allows the development of exhibition spaces, hypermarkets for different purposes and supporting services of the General Hospital (parking areas, small hotels, medical laboratories). Original Source: Philenews.com Adaptation/Summary: Kiki Athanasiadis