Greek participation at MIPIM 2018 international property fair concludes successfully

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Thursday, 22 March 2018

Greek participation at MIPIM 2018 international property fair concludes successfully

Enterprise Greece organized for the first time the Greek National Pavilion at the MIPIM 2018 international property exhibition, which was held in Cannes March 13-16, showcasing the attractive opportunities emerging for foreign investors in Greek real estate.

The MIPIM property fair, which has been held since 1990, is one of the leading property exhibitions in Europe and brings together the most important companies in the real estate market and related industries. This year the exhibition welcomed 24,500 visitors, 3,100 exhibitors from 100 countries, more than 400 speakers, 5,300 investors and 60 institutional investors with more than $600 billion in assets under management.

More than 400 business representatives, investors, investment fund managers, hotel and construction industry executives visited the Greek pavilion, expressing their interest in the country's investment opportunities and familiarizing themselves with the latest developments in the economy and real estate market.

Exhibiting at the Greek pavilion were Crystal Waters (a Euroterra Capital company), the Directorate for the Armed Forces Real Estate Development (DAFRED), Lamda Development, NBG Pangaea and the Public Properties Company (ETAD SA – a company that is 100% owned by the Hellenic Corporation of Assets and Participations - HCAP S.A). The Greek pavilion also hosted a networking event during the exhibition, on Wednesday, March 14, which was attended by more than 150 guests.

During the exhibition, officials from Enterprise Greece held 55 individual meetings with representatives from real estate companies, investment funds, builders and hotel chains to inform them of Greece's investment opportunities in the tourism and real estate sectors. The representatives were also briefed on Greece’s Golden Visa program, matchmaking services provided by Enterprise Greece to connect Greek and foreign companies, and the agency’s investor support services. Particular interest was expressed in Greek residential, office and hotel development opportunities.

In remarks, Enterprise Greece Director General for Investments Angela Michalopoulou, said: "The agency’s first time participation with a Greek national pavilion at one of the most important real estate exhibitions in Europe was a success. We would like to thank the Greek exhibitors for their confidence in us, and we have agreed to renew our appointment for 2019. The messages from international investors are positive and together we, both in the public and private sector, should help keep up the momentum."

Pantazis Therianos, CEO of Crystal Waters, said: "We have had a phenomenal response at MIPIM. We have now entered into formal discussions with Resort and Villa Operators, REITS and potential joint venture partners. The interest in Greece and Crystal Waters has come from all over the world, particularly, the GCC, Russia, UK and even Poland."

George Zisimatos, Head of the Directorate for the Armed Forces Real Estate Development (DAFRED), said: “The Ministry of National Defense Property Development Agency, took part in the national pavilion and presented our dynamic portfolio to the international investment community, which included three mature tourism projects with a combined budget of more than €150 million.”

NBG Pangaea CEO Aristotelis Karytinos said: “The Greek participation in the MIPIM 2018 exhibition that just finished, was among the most significant of the last few years, if not the most significant since the exhibition was launched at the end of the 1980s. The increased Greek presence was significant not just in terms of numbers, with the presence of both state and private companies, but also in terms of the design and appearance of our exceptional national pavilion. My hope is that the effort will continue in the future and will be supported by more companies in order to showcase to the international community the activity taking place in the Greek real estate market.”

Finally, Ellie Kakoullou, Executive Director of the Public Properties Company (ETAD SA – a company that is 100% owned by the Hellenic Corporation of Assets and Participations - HCAP S.A.) stated that: “ETAD is pleased to have participated in MIPIM this year with its new, increased capacities and extended development mandate with respect to the vast portfolio of Hellenic Republic properties recently transferred to its ownership.  Our portfolio today is spread out throughout the Greek mainland and isles and encompasses commercial and residential real estate, hotel properties, thermal spring resorts, large plots of land in mountainous and seaside regions, in addition to Olympic venue properties and other special use assets. Our mission is to create and steadily increase asset values and secure long term revenue streams within our unique and diverse portfolio of assets, attracting private investments and contributing to regional economic development in parallel.  The series of productive meetings that took place during the conference with a diverse and broad group of investors from all over the globe, has underscored the renewed and growing interest of investors in Greek real estate, paving the way for further growth and investment.”

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