A 26% decrease in net income to 80.4 million euros was presented by Prodea Investments in the first half of this year as a result of an increase in investments that amounted to 17.6 million euros, or 45% more than in 12.1 years. million euros for the corresponding period last year. On the contrary, turnover increased significantly by 13.2% to 73.5 million euros from 64.9 million euros in the corresponding period last year. Operating profit increased by 2.7% to 102.5 million euros from 99.8 million euros. Excluding property revaluation gains (€57.2 million unchanged year-on-year), EBITDA was €45 million, down 5% year-on-year.

The largest purchase in the first half of this year was the acquisition of an office building with an area of ​​14,000 sq.m. at the intersection of Heimarras 8B and Gravias streets in Marousi, for which the listed company paid 35 million euros. At the same time, the company also acquired five adjacent 10.4 acre lots on Kifisias Street, near the Attika Street intersection. Demolition of existing buildings (they housed the headquarters of the Church of Jehovah’s Witnesses) and the construction of two independent administrative buildings with a total area of ​​more than 17,000 sq.m. planned. During this period, Prodea Investments is advancing the implementation of an investment plan of around 600 million euros until 2025 to acquire or develop over 417,000 sq.m. new buildings. Most of them (about 90%) will concern facilities that will have “green” certificates for their high energy efficiency. The orientation is mainly for the office, logistics, residential and hospitality markets.

Investments in the first half of the year amounted to 17.6 million euros, an increase of 45% compared to the corresponding period last year.

In the area of ​​logistics, the acquisition of a 111-acre site in the Aspropyrgos area, where Prodea Investments aims to build a 40,000 sqm complex, stands out. The cost of acquiring the site amounted to 5.85 million euros. According to the company’s management, the property has been pre-approved for use and the urban planning process is underway. The issuance of a building permit is expected to be achieved in 2023.

Recently, Prodea has also started to develop residential buildings. Three months ago, the company acquired five separate companies owning nine residential lots and an existing, fully rented, 24-unit building. The price of the companies under consideration was 16.3 million euros. The total investment is expected to approach 60 million euros and involves the construction and placement on the market of more than 70 apartments in areas such as Chalandri, Politeia and Agia Paraskevi. Properties will begin to be handed over gradually over the next 18-24 months, with approximately 50% available for sale and the remaining 50% available for rent, according to officials. To this end, the company entered into a strategic partnership with a specialized company in the residential sector.