Trade Estates begins construction on Ellinikon retail park

Trade Estates has entered the construction phase for its retail park at the Ellinikon site in Greece. The project, estimated at 75 million euros, covers 27,100 square meters and is expected to include large-scale retailers such as Ikea. The facility is slated to begin operations in the fourth quarter of 2029, aligned with the development timeline of the Ellinikon Commercial Hub.

Simultaneously, the company is expanding its international footprint through the acquisition of a 50% stake in the Sofia South Ring Mall in Bulgaria for 49.35 million euros. This transaction, expected to close in the second half of 2026, establishes a significant presence in the Bulgarian market. CEO Dimitris Papoulis noted that the company is actively exploring further investment opportunities in Bulgaria due to its strong consumption-driven economy.

Trade Estates is currently executing a 250 million euro investment plan for the 2024–2028 period, with approximately 49% of the plan already completed. Management expects the company's gross asset value to reach between 740 and 760 million euros over the next three years.