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, from Wednesday 13th till Monday 18th December the Company realized a series of presentations and contacts with a significant number of foreign equity investors in Amsterdam, Zurich, Paris and London. The activities, the investment policy of the Company as well as the company''s strategic goals were extensively presented.
The presentation started with details of the Company''s successful recent IPO, a general business overview of the Company, which operates in the fast growing industry of real estate investment, 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 managed to absorb 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 period January - September 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 Karytinos noted, there is significant interest of foreign investors both in the Company and in the Greek real estate market, However, in order to capitalize on this favourable trend, certain regulatory issues need to be improved as soon as possible. These include the possibility to invest in SPV''s whose sole purpose would be the investment in specific properties, the decrease 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.
Finally, Mr Chryssikos underlined the positive response to the quick absorbing of a significant percentage 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.