Announcement of Establishment of Trade Estates REIC
FOURLIS HOLDINGS SA hereby announces that on July 12, 2021 the Ministry of Development and Investment approved the establishment of TRADE ESTATES REAL ESTATE INVESTMENT COMPANY SOCIETE ANONYME (TRADE ESTATES REIC SA). The register share capital of the company is one hundred seventy three million five hundred twenty seven thousand three hundred and seventy eight Euro (€ 173.527.378).
The real estate portfolio of TRADE ESTATES REIC includes all the existing private owned properties of the Group, which are used for the operation of the Retail Home Furnishing (IKEA), the logistic centers in Schimatari and Oinofyta, as well as a retail investment property in Greece.
The purpose of TRADE ESTATES REIC is to invest purely in large retail (“Big Boxes”) and e-commerce infrastructure support properties, through the acquisition of new real estate outside the Fourlis Group, creating a portfolio of high quality and returns.
July 12, 2021
Fourlis Holdings S.A.