On Wednesday April 15th, PASAL Development S.A. presented at the Association of Greek Institutional Investors. The company was represented by Andreas Kapsalis, Vice-President & General Manager, and Costas Markazos, Chief Financial Officer.
During the presentation, the most important facts of the completed 2008 business plan were elaborated, concerning investments, sales and completions of the investment properties, as well as the strategic implementation for 2009. Specifically, reference was given to the development completion and the future outlook of the Shopping Mall Athens Heart, the completion of the logistics centre in Elefsina, the acquisition of the 37.08% in Trastor (ex Pireos R.E.I.C.), and the enforcement of its investment planning through the sale of 2 investment properties and the acquisition of new development properties.
Within this year a new shopping centre is expected to complete in Alimos Ave. with letting area of 4,000 sq.m. and the company is in the deal making process with the tenants.
In the context of implementing the investment plan, Pasal Development is looking for developments of new real estate projects in Athens, Thessaloniki, Larissa and Chalkida, with emphasis on the emerging sector of commercial shopping centres and retail parks.