Premia Properties – Agreement with Dimand for the acquisition of a Biotechnology property in Peania

The signing of a preliminary agreement with the Dimand A.E. Group for the acquisition of an independent property in which a biotechnology park will be developed was announced by PREMIA PROPERTIES.

The property is located at the 2nd km of Paiania-Markopoulou Avenue, inside Peania industrial park and has an area of ​​23 acres in which there are office and warehouse buildings of 4,180 sq.m. which will be reconstructed and reused, while new buildings with a total area of ​​16,000 sq.m. will be developed.

The tenant of the property and the operator of the park will be a joint venture of a Greek and American biotechnology company specializing in the field of cell therapies, after which a preliminary closed lease agreement for 20 years has been signed.

Thus, PREMIA PROPERTIES, implementing its strategy, with this agreement launches real estate investments in the field of Health. The biotechnology park that will be created inside the property, is a particularly important investment for the Greek economy, which stands out for its innovation and concerns the development, production and distribution, for the first time in Greece, of cell and gene therapies, which will cover a wide range of serious and life-threatening diseases.

The investment will last about 2 years. The annual rental income is projected to rise from the second quarter of 2022 to 1.5 million euros and gradually until the completion of the investment at the end of 2023 will reach 3.5 million euros.

Mr. Elias Georgiadis Chairman of the Board of PREMIA PROPERTIES stated: “2021 for PREMIA PROPERTIES was a period of intense activity and growth and is completed with another significant investment. The property in Peania is the eleventh property added to the portfolio of our company within the current year, thus certifying that PREMIA PROPERTIES is today the most dynamically growing real estate company in Greece and being another step towards achieving our strategic goal for € 1 billion value of real estate portfolio within the next five years.”

Mr. Konstantinos Markazos, CEO of PREMIA PROPERTIES stated: “PREMIA PROPERTIES, after the serviced apartments, enters in 2021 in another field of activity, which presents significant growth prospects, that of health. The new investment is expected to contribute to the further enhancement of the quality and the diversification of the real estate portfolio as well as to the strengthening of the fundamental sizes of our company. The real estate market in Peania is fully in line with our ambitious investment plan, which we will continue to implement consistently.”