The Fourlis group has signed an agreement for the sale of a strategic stake in Trade Estates, which will soon announce the acquisition of two retail parks in an equal number of cities in the region.
The private placement in the real estate subsidiary of the Fourlis group, which invests exclusively in large size retail real estate (big boxes) and e-commerce infrastructure (logistics) contrary to the practice of other companies in the sector that have a diversified portfolio, concerns an average double-digit percentage ( below 15%) and will precede the listing of the company’s shares on the Stock Exchange.
According to Mr. Vassilis Fourlis, the decision for the entry of the real estate subsidiary in the ATHEX has been taken and in fact the legal deadline will not be exhausted (July 2023), as he mentioned in the presentation of the new logistics center of the group, in Oinofyta.
The general goal is to significantly expand the shareholder composition, in order to increase the marketability of the shares, with the percentage of the group after the public offer ranging from 35% – 40%.
5 + 1 investments
The value of Trade Estates Real Estate Assets, which started with a portfolio of real estate with a book value of 185 million euros after the separation of 5 IKEA stores and a warehouse, now reaches close to 300 million euros, while investments of 200 million have been launched in 5 year horizon.
Specifically, this is a series of new commercial parks, which will be developed in Attica, Patras and Crete, as well as a logistics center for third parties, always in the retail sector.
Many of these investments, such as the commercial parks in Spata, Heraklion, Patras, Elliniko and Chalandri, will be completed within two years, said Mr. Fourlis.
It should be noted that in Patras, Heraklion and Chalandri Trade Estates has entered into a strategic partnership with the Dutch company Ten Brinke Hellas, jointly developing these commercial parks.
Once the development is completed, the commercial parks will be acquired by Trade Estates, as happened with the retail park at the junction of Kifissou and Piraeus streets, in Moschato with users AB Vassilopoulos, McDonald’s, LC Waikiki, Moustakas, as well as the first store of the Polish chain Pepco.
Regarding the retail park in Elliniko, this is an investment of 55-60 million euros with a total area of 44,000 sq.m., of which 14,000 sq.m. will be leased by group companies. There are already discussions with several retailers about the rest of the area, where only large stores (big boxes) will be developed .
The trade estates of Trade Estates will be adjacent to Vouliagmenis Mall, the largest shopping center in the country with an area of 130,000 sq.m.
Investment of 18 million euros in logistics
The real estate firm of the Fourlis group is the owner of the new logistics center in Oinofyta, which was created for the needs of the sporting goods sector (Intersport and Athlete’s Foot) and later health and wellness products (Holland & Barret).
The manager of this automated logistics center, which is considered the most modern in Greece and serves the 120 sports stores as well as the e-commerce of the company, is Trade Logistics, which pays rent for the lease of the property.
The investment amounted to about 12 million euros, while an investment of 6 million euros has been launched in the new warehouses for IKEA in Schimatari, also owned by Trade Estates.
At the end of the first quarter, the net debt of Fourlis group’s Trade Estates amounted to 86.5 million euros compared to 9.5 million euros a year ago.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Eurostat: Women and Youth Most Underpaid in Greece
In the EU 18.2% of women are low-paid compared to men, against 23% in Greece. A staggering 43% of young Greeks are low-paid—the second-worst rate in Europe.
Public Services in Greece to Go Under Review with New Rating Tool
Public services will receive their evaluation scores and feedback directly, fostering a system of accountability and continuous improvement.
Istanbul Earthquake – Greek Prof. Concerned Major Quake Yet to Strike
Responding to concerns over whether a potential major quake in Istanbul could affect Greece, Papazachos was reassuring: “The fault extends as far as Lemnos and the Northern Sporades, but it doesn’t rupture all at once. An earthquake in Istanbul doesn’t have the capacity to directly affect Greek territory.”
Greece 4th Most Popular Summer Destination for Europeans
Southern Europe remains the top choice for Europeans at 41%, though down 8% from last year, likely due to rising temperatures and climate concerns.
Easter Sales Performance and the Source of €4–5 Million in Losses
Easter retail sales were relatively weak this year, with the only "real winners" being the livestock farmers who had lambs to sell.
Hotel Foreclosures Continue to Plague Greece’s Islands
A surge in hotel foreclosures across Greece’s islands threatens small tourism businesses, despite booming visitor numbers and record-breaking travel in 2024.
Athens Launches Task Force to Safeguard Historic City Center
The new municipal unit will ensure compliance to zoning laws, curb noise, and address tourist rental issues starting from the Plaka district.
WTTC: Travel & Tourism to Create 4.5M New Jobs in EU by 2035
This year, international visitor spending is set to reach 573 billion euros, up by more than 11% year-on-year
IMF: US Tariffs Shake Global Economy, Outlook Downbeat
IMF slashes global growth forecast to 2.8% as U.S. tariffs create uncertainty and ‘negative supply shock
First Step Towards New Audiovisual Industry Hub in Drama
The project is set to contribute to the further development of Greece’s film industry and establish Drama as an audiovisual hub in the region
![Accor: Η βιωσιμότητα «κλειδί» για την ανάπτυξη και ανθεκτικότητα του ελληνικού τουρισμού [έρευνα]](https://www.ot.gr/wp-content/uploads/2025/04/thumbnail-90x90.jpg)
![Οι αλλαγές που υπάρχουν στα φορολογικά έντυπα για τα εισοδήματα του φορολογικού έτους 2024 από ακίνητα [Γ’ Μέρος]](https://www.ot.gr/wp-content/uploads/2025/03/akinita-600x400.jpeg)
