At 17.7m euros amounted to income by her rents Noval Property for the period ended on June 30, 2025, compared to EUR 15.9 million in the same period in 2024, increasing EUR 1.8 million (11%increase).
According to a statement by Noval Property, this increase in revenue results from the active management of the company’s real estate and the dynamics of its portfolio, leading to both the conclusion of new leases and the renewal of existing contracts on more favorable terms. At the same time, it contributed to the increase in the turnover of employees in commercial real estate, part of which is paid to the fees as a rent.
Significant progress was made in the first half of 2025 in the company’s development and lease program. Ardittos House, a 40-42 Ardittou Street immovable property in Metz, Athens, including luxurious houses and modern office spaces, has been delivered to the market, with over half of the lease area of the residential section already leased. At the same time, the company further strengthened its office portfolio by completing the construction of a modern, high standards of office building on Himarra Street in Maroussi, the main business hub of Athens, which was delivered to the employees in July 2025.
Further, about 34% of the overall use of the Office Building under reconstruction on Kifissia Street199, in Maroussi was rented to one of the leading pharmaceutical companies in the world. The reconstruction of this property is expected to be completed in the first quarter of 2026.
Earnings before taxes, interest, depreciation and adjustment of fair assets (A-EBITDA) for the first quarter of 2025 amounted to € 11.0 million, compared to € 9.4 million in the period of 2024, showing an increase of EUR 1.6 million (an increase of 17%) and a significant increase in the company.
Funds from FROM Operations for the period expired on June 30, 2025, amounted to EUR 7.0 million, compared to EUR 3.2 million for the period expired on June 30, 2024 (excluding interest revenue), increased by EUR 2.9 million (EUR 73%), as a result of the above, as a result of the above -mentioned, of the company.
The reasonable value of Noval Property’s investment portfolio on June 30, 2025, amounted to EUR 679.0 million, compared to EUR 648.3 million on December 31, 2024, increasing an increase of EUR 30.7 million (an increase of 5%).
The cash and equivalents on June 30, 2025, amounted to EUR 57.3 million, compared to EUR 72.8 million on December 31, 2024.
Michalis Panagis, chief executive of Noval Property said: “In the middle of the year, we remain steadily in the course of achieving our goals for 2025. The completion and delivery of the Ardittos House and Himarra 16 projects were two important landmarks for us in the first half of us in the first half of the 20th. Innovation and successful implementation. These two properties essentially reinforce our portfolio and reflect strategic focus on the development of a quality, durable and differentiated sustainable property portfolio.
At the same time, we continue vigorously with the reference to the reconstruction of a building under the 199 Kifissias Street, where the ever -increasing demand for high -quality offices buildings confirms market confidence in our strategy. Staying consistently in the same direction, we focus on completing the development projects, upgrading existing real estate and expanding the portfolio through possible acquisitions, committed to our goal of creating long -term value for shareholders and participants. “