Eurobank Properties REIC, presented its activities to foreign investors during the previous days along the framework of its communication programme for the international equity investment community.
In specific, last week the Company realized a series of presentations and contacts with a significant number of foreign equity investors in the USA (Naples - Florida) at Citigroup 2007 CEO Global Property Conference.
The company''s presentation started with a general business overview of the Company, which operates in the fast growing industry of real estate investment, details of the Company''s successful recent IPO, and reference to the latest trends of the attractive Greek real estate market.
The presentation continued with references to the latest investments of Eurobank Properties REIC as well as to the fact that the Company has already managed to absorb more than 50% of the IPO proceeds just a few months from the completion of its listing at the Athens Stock exchange.
In addition, the high quality property portfolio was presented in combination with its strong corporate tenant base, the favourable tax regime of the real estate investment companies in Greece, the strategic partnership with Eurobank EFG Group and, last but not least, the vast experience of the management team.
In the end, reference was made to Eurobank Properties REIC''s financial results for the fiscal year 2006.
The Company was represented by Dr Aristotle Karytinos, executive member of the Board of Directors and member of the Investment Committee of Eurobank Properties REIC, Mr George Chryssikos, Investment Manager and Mrs. Thiressia Messari, Investor Relations Manager.
As Dr Aristotle Karytinos noted, "there is significant interest of foreign investors both in the Company and in the Greek real estate market, We are convinced that the expected improvements of certain regulatory issues, such as the possibility to invest in SPV''s whose sole purpose would be the investment in specific properties, the revocation of the minimum cash requirement, the increase in gearing in alignment with international practice and the clarification of certain tax issues such as capital gains and VAT, will help the Company to utilise in the maximum the favourable tax regime, not only in Greece but in the wider geographic region. Furthermore, it will allow the attraction of even more foreign insitutional investors in our country, through their investment in Eurobank Properties REIC".
Furthermore, Mr Geroge Chryssikos amongst others underlined the positive response to the company''s investment decisions relating to the absorbtion of the IPO proceeds and added that "the remaining proceeds are expected to be invested before long within the framework of materializing the Management''s strategy for further developing Eurobank Properties REIC. This strategy focuses on the acquisition of office, retail, logistics and industrial spaces in prime locations."
Finally, with relation to the significance of the Company''s attendance to the specific conference, Mrs Thiressia Messari noted that "this conference constitutes a significant annual event for the international real estate market and during the conference, distinguished companies from the USA, Europe and Asia have the opportunity to meet with international investors and to present their activities, their investment strategy and to elaborate on their strategic goals. It is worth noticing that from the approximately 100 participating companies, Eurobank Properties REIC was the only company from our country and the wider region of Eastern Europe".