New players enter local realty market
The recovery of the real estate market and the investment opportunities created in various categories of buildings have also multiplied business partnerships, as well as the arrival of new players in the sector. This is a development reminiscent of the 2000s, when the sector experienced rapid growth, attracting companies and investors from other sectors of the economy, as well as from abroad.
Such is the case of Intracom Properties; the newly formed subsidiary of technology group Intracom is making a dynamic entry into the realty market, having already built a 100-million-euro portfolio of income assets. The goal, in the first phase, is the further development of its portfolio, so that it reaches €200 million, with its listing to follow. By end-2024 its management aspires to have created a real estate portfolio, yielding annual rental income of €8 million.
The Everty Greece group, the local property investment arm of the US investment group YNV, has also developed significant investment activity. The group manages five companies in the technology, education and real estate sectors. Everty Greece has already created a real estate portfolio approaching €100 million.
