REICs are lining up for listing
The inflow of real estate investment companies (REIC) into the stock market will continue in 2024.
After the stock listing first of Trade Estates REIC, of the Fourlis group, and recently of Orilina Properties REIC, three more companies are in line. They are Noval Property REIC, of the Viohalco group, Intracom Properties and Lamda Malls, of the Lamda Development group.
First up is expected to be the Intracom group’s Intracom Properties. This is the group’s new venture in the sector after the completion of its transformation. The company already has a sizable real estate portfolio worth €63 million, of which the group’s office complex in Paiania stands out. Recently, two more buildings of the complex were leased to Intrakat, to house Aktor’s employees. The listing of Intracom Properties’ shares will take place through the absorption of the listed firm Kloukinas-Lappas, which it has acquired.
Toward the end of the first quarter or within April, the public offering of the shares of Noval Property REIC of the Viohalco group is expected to follow, targeting €100 million. Another €150 million will be sought by Lamda Malls, a subsidiary of Lamda Development that undertook the group’s malls.
