Its investment program is in full swing Noval Property of the group Biochalco, estimated at 400 million euros. The aim is to increase the value of the company’s portfolio to at least €1 billion within the next five years. Today the value of the company’s portfolio exceeds 500 million euros and it covers an area of 470,000 sq.m.
In this context, the construction of the office complex began The Grid, in joint venture with Brook Lane. It is a project worth 96.5 million euros, which is also financed through it Recovery Fund at a rate of approximately 40%. The group undertook the project GEK TERNA, through its 100% subsidiary company TERNA. The Grid is about the redevelopment of her property formerly Kodak in Marousi, an area of 16 acres located at the junction of Heimarra and Amarousiou – Chalandriou streets. The total area of the complex will reach 61,500 sq.m. Of these, the 35,100 sq.m. will concern underground spaces and the remaining 26,400 sq.m. the superstructure surface. Of course, due to the size, this property will appeal to more than one tenant.
Based on the design, the complex will consist of two “C”-shaped buildings, which will be arranged in such a way that a central garden is formed between them. The property will receive the highest level of LEED Platinum rating, for its bioclimatic characteristics.
A few weeks ago Noval completed the construction of its first center logisticswhich has been leased by Seagull, logistics services company. It is a building of 10,000 sq.m. located in the region of Mandra in Eleusis and is the first property of its kind in Greece to receive LEED Gold certification, for its high energy efficiency. The amount of the investment is estimated to have reached eight million euros.
The company is launching two more projects in the office market, with an emphasis on the wider area of Amarousi. Specifically, in yet another office building at the junction of Heimarras 16 and Amarousiou – Chalandriou streets, the creation of an extension by three more floors is progressing. Also, the office building acquired in Maroussi at 199 Kifisias St. is also being reconstructed.
Accordingly, in Mets, on Ardittou Street, Noval is proceeding with the reconstruction of a 4,285 sq.m. building, which will be converted into a mixed-use residential and commercial complex. The introduction of the company to Athens Stock Exchange is scheduled for the spring, with the most likely scenario predicting that it will take place within April.
