AKTOR’s real estate development plan

The (formerly Intrakat) is preparing to make a significant market opening in the coming months, as the 600m-euro deal, announced a few months ago in collaboration with Prodea, progresses. Although this move has focused the attention of the market, it is not the first time that the Group has expanded beyond its traditional activities to construction, concessions, PPPs and renewable energy sources. The real estate sector has already been part of AKTOR’s strategic planning in the past. CORVERSE Since the beginning of 2022, the Group took its first step in the area of luxurious hospitality, completing and operating the 5 star hotel “Xenodocheio Milos” in Athens, with 42 rooms and the restaurant “Estiatorio Milos” being a key element of its experience. At the end of the same year, the renovation of a 9-storey office building, a total area of 7,300 sq.m., on Hippokratus Street in central Athens, was completed, enhancing the presence of the Group in the field of professional properties. As part of an extension to the tourism sector, through the subsidiary INTRA Estate, the Group acquired four plots in Ano Mera Mykonos, for which building permits were issued for the development of staff housing, a total capacity of 95 rooms and 248 beds on a structured surface of 3,500 sq.m. Construction of the project began in April 2024, after securing funding of €10 million, and is expected to be completed in October 2025. At the same time, through the 100% subsidiary “INTRA ESTATE SCHOIOUSA MONOPROPOSI S.A.”, the Group owns the hotel “Apanema Resort” in Mykonos Chora. The accommodation will be completely reconstructed and converted into a luxury boutique hotel with 17 rooms and a branded restaurant, focusing on upgrading hospitality experience. Finally, the Company plans the development of an eight-storey residential building on Homer Street in Nea Smyrna, in collaboration with the “MARIA KOKKORI” Foundation of the Holy Archdiocese of Athens. The building, a total surface of 1,600 sq mi, will be energy class A and will include two ground floor shops, seven apartments and underground parking, offering a comprehensive and modern urban housing solution. However, the agreement signed with Prodea turns AKTOR into a key real estate player, as a special purpose subsidiary to be established is to acquire 100% of the shares of Milora (100% subsidiary of Prodea), which will hold the portfolio of 56 real estate, either directly or indirectly (via SPVs), of a total value of €582 million, which is estimated to generate an annual income from rents of around €41.5 million. The Framework Agreement with Prodea provides for the procedure for the completion of the Transaction, which is expected to be completed if the contractual sects and other ordinary sects and approvals for similar transactions are paid, with the signature of the definitive legal texts, by 31 May 2025. The Parties may, by mutual agreement, extend the deadline for the completion of the transaction. Among the properties that come to Actor include Sofia’s City Tower office complex, HUB 26 office complex in Thessaloniki, part of the Avenue shopping center on Kifisia Avenue, (the Hupermarket department that houses the Slavenitis supermarket) and the Via Cavour office building in Rome. Rents are estimated to secure rents of at least EUR 300 million for the next decade.