AS Company announced today (23.5.2025), after a successful negotiations with an interested buyer of a public limited company, how it signed on Wednesday (21.5.2025). real estatelocated at the “Pezoulos” site Elounda Ag. Nicholas Crete.
Properties in Crete, totaling about 58 acres, were acquired between 2022 – 2024 as an investment. The total agreed price amounts to EUR 3,000,000.
The transaction, in accordance with the terms of the pre -contract, is expected to be completed by the end of 2025 and the net return of the investment for the company and its shareholders will be 40%, within a period of less than three years from its onset of implementation, including all relevant spending.
The company continues to maintain two more investment properties – in Matala Heraklion and Plaka Elounda Ag. Nicholas – with the possibility of developing tourist farms.
The administration continues to strategically evaluate every opportunity for further real estate in the same areas under favorable financial terms, as well as for the better use of its existing portfolio.