The shopping centre sector is the latest sector to be targeted by property investment groups. According to the Kathimerini, several funds and development companies are eyeing the local market ahead of an expected recovery.
Shopping centres constitute particularly attractive properties, as the Greek market offers great scope for their growth, thus investment groups are now looking forward to much greater yields when the economy and private consumption recover.
An example of this is the American-based company, BlackRock, a global investment management corporation. BlackRock recently secured the signing of the presidential degree for the town planning clearance of the plot at Academia Platonos, where it plans to construct a 55,000-square metre shopping centre, investing over €300m, which includes the purchase of the land.
Another example is the American investment group Varde Partners, which purchased a 31.7% stake in Lamda Development subsidiary Lamda Malls last year.