Towards the end of 2028 the start of its commercial park is postponed Trade Estates In Elliniko, instead of the end of 2027, as announced yesterday (13.6.2025) by the company’s chief executive, Dimitris Papoulis, at the General Assembly of shareholders.
One year delay is mainly due to the postponement of the delivery of the necessary infrastructure by Lamda Development, on which the Retail Park of Trade Estates will be developed, which provides for a large IKEA store and 7-8 more large commercial chains. Lamda, on its part, has shifted the construction due to Excessive costs and growth in the prices of building materials.
As explained, the project depends on the completion of the “plaque” – the ceiling of the underground parking which will be shared with the Lamda shopping center.
“Regardless of delays, Elliniko is a very important project for the country, and I personally believe that our own development will bring to the company rather than many benefits,” commented Trade Estates President Vassilis Fourlis, with Mr. Papoulis adding that “this development remains extremely well. strong by international and Greek great retailers».
Work on the Hellenic Shopping Park is expected to start in 2025with the construction costs for Trade Estates remaining the same. On the cost of construction, Mr Fourlis noted that “although it has had a very rapid increase over the last three years, we see that it has now begun to stabilize the materials. But in terms of work, things may get even worse because of big projects and demand. ”
New projects are coming in autumn
Within the next 3-4 monthsthat is, in autumn, Trade Estates prepares Important announcements for new projectsas Mr Fourlis revealed yesterday.
On the main focus on retail parks and logistics, the company continues to implement its plan consistently, focusing solely on the Greek and Bulgarian markets for a possible expansion.
It is worth noting that the company has already begun to have revenue From the commercial parks in Patras and Heraklion, where the leasing prices for the stores reach about 1,170 euros per square meter.
How the company’s financial sizes move
‘The first semester moved within our forecasts’, Mr Fourlis pointed out, reflecting the positive momentum formed for 2025. The company expects the total annual financial results to move within the market that has already given the market, with indications to enhance the confidence climate.
“We have no renovation real estate and our development is going on by plan – which allows us to accurately predict,” he said.
It is recalled that the Total Revenue of Trade Estates for 2024 They amounted to EUR 46.2 million, up 73% compared to 2023. Customized EBITDA stood at € 30.1 million (+65%), while net profit reached € 13.1 million, up 75% on a year.
Trade Estates’ five -year investment plan, € 250 million by 2028, is in full swing, with the group already succeeding two critical goals in the past 18 months: “The entry into the Athens Stock Exchange in a difficult time and the firing of the Fourlis Group with the increase in dispersal and participatory base. At the same time, he completed a large number of projects and achieved very good performance in existing real estate, “the company president said.
In this context, the Board of Directors suggested to the General Meeting of shareholders distributing a dividend of EUR 0.10 per share for the use of 2024, with a total net amount of EUR 12.05 million.