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BABIS VOVOS INTERNATIONAL TECHNICAL S.A.
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Announcement
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May 21, 2007 BVIC Group is pleased to announce the sale of 12,224 sqm and 243 parking spaces, at the office complex under construction at 108-110 Athens Avenue to the German real estate investor "KanAm Grund" for euro 47.096 million. The building is part of a 3 building office complex under construction on an 8,000 sqm land plot. BVIC was awarded the development in September 2005, following an open bid by the Hellenic Exchanges SA (HELEX). BVIC is developing an office building of 6,700 sqm, where all of HELEX's departments will relocate, as well as two other buildings of 12,224 sqm and 5,000 sqm gross let table area respectively, that became ownership of BVIC. It has to be noted that the 5,000 sqm building has already been sold to the international insurance company ALLIANZ SA for euro 17.5 million. The sale agreement with KanAm Grund was signed on the 18th May 2007. The building will be delivered on the 31st October 2007. Aris Vovos, CEO of BVIC announced: "This sale is indicative of the growing interest from international property investors for the Greek real estate market.".
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