Was approved by the General Assembly of Briq Properties the optional reinvestment program dividend (Script Dividend), which provides for a share capital increase of up to EUR 30 million at a nominal value – an amount corresponding to approximately EUR 40 million, based on the current share price. The program, which will be valid until 2028, is over -shareholders and aims to enhance the company’s liquidity, while seeking higher returns in the future.
Through the program, shareholders will be able to reinveit their dividends by acquiring additional shares with a slight discount on current stock market value. This option is estimated to be more economically advantageous for the company than an immediate share capital increase, as it has a lower implementation costs and zero transaction costs for shareholders.
Briq, which now merged with ICI now has a portfolio of € 284.8 million – increased by 91% compared to € 148.9 million before merging – continues to implement an ambitious investment plan. According to Managing Director Anna Apostolidou, 86% of this increase came from new investments, while only 14% involved property prices. It is recalled that the company was founded in 2016 with a portfolio of just € 24.3 million.
Briq Properties’ property portfolio, worth a total of € 285 million, is widely dispersed in the use of real estate. Specifically, 31% are offices, 26% stores, 29% logistics facilities, 12% hotels and 2% special property.
In the lease, Alpha Bank is Alpha Bank, which comes from 25.7% of total rental revenue. Following are 16.5%of Quest Group companies, and Sarmed with 11.7%. The remaining 46% comes from other credible employees such as Sklavenitis, Friesland Campina and AB Vassilopoulos. The BRIQ real estate portfolio, compared to the revenue of leases, amounts to 7.6%, indicating the efficiency and stability of its investment.
In the first quarter of 2025, Briq focused on the integration of 15 new properties from ICI. In many cases, negotiations with employees are underway to adjust the terms. Indicatively, on the property of 266 Kifissias Avenue, which was partially sandwiched, a full lease was signed with JP Morgan, while two office spaces in the Athens Pyrgos, also acquired by ICI, were sold immediately after the acquisition.
As part of its strategic upgrading of its portfolio with emphasis on sustainability, BRII is launching the development of a bioclimatic office building on Poseidon Avenue. The property will be a total area of 2,400 sqm, with a budget of € 5 million and Leed Gold certification, and its completion is expected in the first half of 2026.
At the same time, the company is preparing a tourist investment in Paros, on a privately owned area adjacent to its existing facilities. The growth concerns suites or rooms aimed at commercially used them since the summer of 2027, as construction work in tourist areas are banned during the summer. In addition, projects are evaluated to hotels of commercial units, as well as the use of residual construction factors in the Aspropyrgos area. These projects also have an integration horizon after 2026.
The Chairman of the Board of Directors And Briq’s main shareholder Theodoros Fessas stressed that the expected reduction in eurozone interest rates below 2% in 2025 is expected to have a decisive positive impact on the profitability of real estate companies. As he said, “with the fall of interest rates and the increase in borrowing, our bargaining power with the banks is reinforced.”
In closing, Mr. Fessas also referred to the positive contribution of the ICI family, noting that Briq now has a reliable and powerful partner in its shareholding composition.