Her participation in his investment scheme Project Skyline, of the new “pole” being created in the real estate sector, is expected to be formalized by the EBRD (European Bank for Reconstruction and Development) in the near future, as an agreement has been reached regarding its size and the amount to be invested. Specifically, according to information, the EBRD will acquire a 9.75% stake in the new company, investing a total of 15 million euros. It is recalled that the Alpha Bank will retain a 35% stake in the new operator, while the largest stake with 39% will belong to Demand Real Estate. The share of Premia Properties AEEAP, which controls the remaining 16.25% of the new entity, is also important.
In the relevant competition held by Alpha Bank, Dimand-Premia prevailed, which will acquire 65% of the new company. Of this 65%, 60% is controlled by Dimand, 25% by Premia Properties and now, the remaining 15% will be acquired by the EBRD. The new body has been established and has begun to operate, with the relevant procedures expected to accelerate in the coming months.
It is recalled that Project Skyline aims to exploit a portfolio consisting of 573 properties of the Alpha Bank group, worth 440 million euros. Most of them, about 500 properties, are expected to be sold. Based on the plan that has been prepared, it is estimated that these sales will generate a total revenue of 240 million euros. The funds will be used to capitalize on the remaining 73 buildings, either through upgrades or through complete reconstruction and change of use, in order to maximize their performance.
Dimand Real Estate will have a dominant role in this process, due to the expertise it has in this field. For example, one of the “fillets”, for which studies are already being prepared, is the complex of buildings at the junction of Aiolou and Sophokleous streets, where the creation of a mixed-use building is planned. Among others it will include residences and offices. Another such property is the office building at the junction of Stadiou Street and Korai Square, right in front of the “Paneistimio” station, on the ground floor of which operates a store of the “Kotsovolos” chain.
