In the Ordinary General Meeting, REDS announced major activities in the Balkans, notably Romania.
The Romanian real estate market is growing rapidly, especially after January 2007, when the country became a full member of the European Union.
REDS has already purchased to plots, one 6,000 sq.m. in Splaiul Unirii, down-town Bucharest, and another 8,500 sq.m. in Baneassa lake, Bucharest.
Furthermore, the company also purchased an 8,000 sq.m. property in the Athinon ave. area (Akadimia Platonos) near the new Athens Stock Exchange premises, in order to construct an office building with an estimated commercial value of approx Euro50 million, and has also concluded a preliminary agreement for the purchase of 9,000 sq.m. in the centre of Elefsina, on Iroon Politechniou str.
Recently, REDS signed a contract with the companies managed by the HENDERSON investment house, for the sale of the VESO MARE and ESCAPE CENTER malls, for a estimated consideration of Euro 40.5 million, as well as a preliminary agreement for the sale of 100% of the shares in YIALOU COMMERCIAL & TOURIST SA, for an estimated consideration of Euro 70 mil.
Finally, the "Lofos Pallini" project came to a successful completion, following the sale of the last of the 202 houses.
The REDS SA annual Ordinary General Shareholders Meeting approved the Company's financial statements for year 2006, and decided on a dividend allocation of Euro 0.01 per share.