Fourlis group announces establishment of property holding subsidiary

Fourlis group this week announced that it has received approval by the relevant development ministry for the establishment of a property holding and management subsidiary, called Trade Estate SA.

An initial share capital for the company was announced at just more than 173,000 euros.

Trade Estates’ portfolio includes all of the group’s current property holdings, most used as IKEA stores, along with the two logistics hubs.

According to a press release, the Fourlis subsidiary aims to expand into the so-called “Big Box” retail sector as well as into e-commerce.