The Stock Exchange bell rang the new BriQ Properties

The first meeting in 2025 yesterday (2.1.2025) began with the negotiation of its new shares after the merger with Intercontinental International SNEAP. Through this transaction, the size of the listed company doubles, thus creating another strong SNEAP, which is among the few that have a very high percentage of free dispersion. During yesterday’s Athens Stock Exchange meeting, CEO Anna Apostolidou stated: “BriQ Properties is at the forefront of the industry’s restructuring, moving on to new stock issues aimed at further balancing its portfolio. Clearly, the Greek stock market needs larger and stronger companies to attract international investors. The development of SNEAPs (Unnamed Real Property Investment Companies) is of crucial importance to strengthening market liquidity. Investment interest in the industry remains high, as it offers stable returns and attractive opportunities.” CORVERSE In turn the CEO of the UAE, Mr. Giannos Kontopoulos, commented that: “BriQ Properties entered the stock market in July 2017 and has since experienced impressive growth. It was the first company to merge within the industry, which led to a doubling of the value of its portfolio. With this strategy, not only did its economic size increase, but the distribution of dividends to shareholders was also strengthened.” Under the terms of the agreement, the existing BriQ shareholders will hold 79.7% of the new company and the former ICI shareholders the remaining 20.3% of the new company’s share capital. Particularly important is the fact that a very high rate of free float of the company’s share is maintained with 41.3%. The benefits of the merger include the immediate strengthening of all the company’s sizes, with the total value of the portfolio doubling to 283m euros and rent revenues amounting to 21m euros. In addition, the resulting economies of scale are expected to contribute to increased profits per share, while giving immediate benefits to shareholders. BriQ Properties’ new portfolio will consist of 25% of shops, 12% of hotels, 30% of mixed-use offices and properties, 30% of logistics and 3% of other properties. 68% of the properties will be located in Attica Region, 18% in islands and 14% in other major cities of mainland Greece. In addition to the renovations it will make in the new properties it has acquired from ICI, BriQ runs its own investment plan, which concerns logistics center in Aspropyrgos, and progresses in the development of a new office complex in the Southern Suburbs. Specifically, it has the development of a newly built office building, a surface of 2,393 sq.m., in L. Poseidon 42, at the height of Kallithea, which will be certified with Leeds – Gold. This investment will reach 6.3m euros and will be financed by 50% of the Recovery and Durability Fund, the well-known RRF, and is expected to be completed early in 2026. The company also aims to invest in the upgrading of the portfolio, through renovations and energy upgrades, and is interested in expanding further to hotels.