top of page

Premia Properties targets green assets as part of 2023 growth plans

Premia Properties plans to add quality properties with sustainability features to its growing portfolio this year in a bid to achieve high rental yields and secure creditworthy tenants.

While presenting its first quarter earnings, the company said in an outlook for 2023 that it will continue to implement its investment program, aiming to optimize the composition and diversification of its portfolio as well as strengthen its quality characteristics.

“At the same time, the company pursues the active management of its portfolio aiming at maintaining its value as well as releasing added value from its existing properties, through transactions such as the recent lease agreements with Leroy Merlin in its Oreokastro, Thessaloniki property and Pepco in its Paiania property, as well as the expansion of the logistics property in Aspropyrgos with Friesland as a tenant,” it said in a statement.

For the January to March period, the company reported net profit before taxes of 3.5 million euros, versus a profit of 1.8 million euros in the same period a year earlier.

The company also announced:

-Addition of two (2) new investment properties within the first quarter of 2023. PREMIA acquired an industrial property that houses IOLI natural mineral water production facilities and a stand-alone building in Xanthi which will be renovated and will operate as a student residence. In addition, the Company acquired a plot of land adjacent to Athens Heart, which is part of the plan to convert the property into a green office complex.

-Increase in income by 30%, increase in operating profitability (Adjusted EBITDA) by 50% and doubling of profitability before taxes, on a consolidated basis, compared to the corresponding period of 2022.

-Participation in one of the largest real estate transactions that took place in the Greek Market during recent years. In February 2023, a binding agreement was signed for the transfer of 65% of the share capital of the company Skyline Real Estate Single Member S.A. (“Skyline”) from ALPHA BANK Group to the joint venture “P&E INVESTMENTS S.A.”, in which PREMIA participates with 25%, while DIMAND Group participates with 75%.

bottom of page