Athens Stock Exchange HQ Sold for EUR 47Million

PropertyEU - May 21, 2007

Babis Vovos International Construction (BVIC) has sold a 12,000 m2 office building development in downtown Athens to German real estate company KanAm Grund for just over EUR 47 mln. The property is part of a three-building office complex under construction on an 8,000 m2 plot.

BVIC, Greece's largest listed property company by market capitalisation, was awarded the development in September 2005, following an open bid process held by the Greek stock exchange operator Hellenic Exchanges. BVIC is developing an office building of 6,700 m2, where all of the stock exchange's departments will relocate. BVIC is the owner of the two other buildings, the 12,000 m2 building and a 5,000 m2 property that has already been sold to insurance company Allianz for EUR 17.5 mln. The sale agreement with KanAm Grund was signed on the 18 May 2007 and the building is to be delivered on the 31 October 2007. Sphere: Related Content