The first examples of specialization of their activities have begun to be exhibited by Real Estate Investment Companies (AEEPs), as part of the development of their individual development strategies. It is an effort of the companies in the sector to stand out in the consciousness of the investing public, both small and institutional investors, as competition between them intensifies as a result of their ever increasing number.
Thus, according to industry executives, companies that will specialize in one or two categories of real estate at most, as opposed to what has been going on up to now, will be emerging in the next few years, with ADEF being placed in all kinds of quality property income.
The expansion of the institutional framework some three years ago has allowed funds to be invested in virtually every type of real estate, opening up new investment opportunities. It is recalled that until then, companies in the industry had to place their funds obligatorily on integrated income property, mainly in office buildings, shops and industrial properties. Today, investments can be made in residences, hotels, and even in deployed plots, and consortia may be set up, As well as participation in public tenders.
Already, this freedom has begun to form distinct shapes, with Grivalia Properties setting up its subsidiary Grivalia Hospitality, which has as exclusive object investment in hotel-tourist properties, with the first move to the acquisition of a majority stake in the private island Pearl Island in Panama. The long-term goal is to develop a good portfolio of tourist properties and to introduce the company into the Stock Exchange, although at present the increased taxation of ADEFs has removed the potential.
Correspondingly, the newly created “Blue Cedar” of the Efomoridi family (Coco-Mat) is launching a portfolio with a strong focus on the hotel market and especially in the hotels of the city, A sector in which this business family has made a significant presence in recent years. At the same wavelength, Lamda Malls, a product of Lamda Development’s collaboration with the American investment group Varde Partners, which was set up exclusively for the acquisition of shopping centers and shops, with the five-year plan to speak of listing on the Stock Exchange either as REIT or as a public limited company.
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