Noval Targets €1 Billion Investment Portfolio by 2030 – Examining 10 New Projects

Noval Property, the second-largest real estate investment company in Greece, aims to achieve an investment portfolio worth €1 billion by 2030. The strategic direction of Noval focuses on diversifying its portfolio and transitioning from property development to the full utilization of its assets. Key projects include the construction of 40,000 square meters of new offices in Marousi by 2026. Among these is ‘The Grid,’ a new office campus in Chimarros Street with a total area of 61,520 square meters, developed jointly with BrookLane at an investment cost of €55 million. Another project involves the complete renovation of a building on Kifisias Avenue, while a third focuses on upgrading a property in Metss combining residential and office spaces. Additionally, Noval is planning a major redevelopment along Piraeus Street, envisioning a mixed-use complex with offices, residences, hotels, cultural, and sports facilities, estimated at €169 million. The company also seeks to enhance the performance of River West shopping center, where lease rates have increased significantly. With a portfolio occupancy rate of 99% and average lease durations of 10.5 years, Noval emphasizes stability and high yield. Moving forward, the company plans to reduce development projects below 15% of its portfolio by 2026, focusing instead on optimizing mature assets. Furthermore, Noval explores entry into specialized real estate categories like serviced apartments and student housing.