TEN BRINKE Takes Over €100 M Ellinikon Project After Centric Withdrawal

Centric Συμμετοχών announced that it will not continue its joint venture with TEN BRINKE Hellas on the €100 million residential development in the Ellinikon area of Athens. Negotiations over the detailed terms of the investment failed to reach a final agreement under the changed market conditions. Under a settlement, TEN BRINKE will assume full responsibility for the project and will pay Centric €1.75 million as compensation for the termination of the partnership. The company confirmed that it will continue to pursue its strategic plans and evaluate other investment opportunities.

The development, originally planned for the municipality of Ellinikon‑Agios Kosmas, involved the acquisition and construction of residential plots and was disclosed in accordance with EU Regulation 596/2014.