PASAL Development S.A. announces the sale of a 9,120 sq.m. land plot situated on Georgikis Scholis Ave in the Municipality of Pilaia, Thessaloniki, for an amount of euro 2,7 million.
The capital gains from the sale reached euro 50 thousand (selling price minus the latest valuation), whereas the realized gains (selling price minus historical cost) reached euro 1.6 million.
The sell was decided according to companys strategy of optimizing its investement prortfolio structure. The sales proceedes will be used for the reduction of short term bank loans.