Alpha Bank has signed a provisional agreement with a Greek-Venezuelan entrepreneur for the sale of the South Polis complex at Faliro Bay in southern Athens.
The deal was signed with Theodoros Douzoglou, who has acquired several properties in Attica, mainly of tourism interest, in the last three years.
South Polis is a 14,573-square meter property for entertainment, commercial and office use. Construction was completed in 2006 by the Babis Vovos group, constituting an investment of 30 million euros.
In recent years the property came under Alpha’s control in return for the reduction of the debts of the property development company. The complex includes Village Roadshow cinemas, a Jumbo toy and homeware retail store and Arrow Shipping and DVB Bank offices. There is also 2,000 sq.m. of office space with a sea view that is empty.