Real Estate Investment Company (R.E.I.C.) in Greece, est. in 2019

Noval Property is a Real Estate Investment Company (R.E.I.C.) in Greece, established in 2019 and listed on the Athens Stock Exchange (ATHEX) The company holds a high-quality and diversified, portfolio of assets, with long-term leases and strong tenant mix. Underpinned by its strong capital structure, Noval Property has designed and is implementing a strategic investment plan with attractive prospects aiming at enhancing and enriching its well- balanced real estate portfolio with environmentally accredited buildings. With a highly experienced and skilled management team, Noval Property brings
in-depth knowledge, expertise, and long-standing know-how to every aspect of its business operations.

Our Mission

Our Values

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Repurpose Growth

At Noval Property we focus on sustainable development and innovation, by investing in properties that create lasting value. With clear vision and responsibility, we redefine the modern urban landscape by offering spaces that enhance people’s well-being and contribute towards the creation of more sustainable cities.

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Sustainable development is our unwavering commitment

We embrace environmental responsibility as a fundamental pillar of our vision for a more sustainable future. We consistently embed best sustainability practices into every facet of our operations, turning environmental awareness into daily action and a core strategic priority.

Innovation is our driving force

We view challenges as opportunities for inspiration, creativity, and continuous growth. By investing in cutting-edge technologies and innovative solutions, expanding our portfolio with properties tha stand out for their pioneering design, elegant and contemporary aesthetics, and superior quality. Our aim is to create long-term value within the urban landscape.

Trust is built on integrity and accountability

For us, success is meaningful only when grounded in respect for people, society, and the environment. We are committed to operating with transparency, integrity, and consistency, always mindful of the impact of every decision we make. Responsibility guides our relationships with partners, investors, and local communities, ensuring that our growth generates a positive impact and lasting value for all.

Empowering people is the foundation of our growth

We believe in continuous development through the power of knowledge. We invest in our people, encouraging professional growth and personal development so everyone can reach their potential. At the same time, we support the well-being of the communities in which we operate, reflecting our broader social commitment.

Key Milestones

2008

IKEA Megastore, Athens




2011

River West Shopping Centre, Athens




2015

Mare West Retail Park, Corinth




2016

WYNDHAM GRAND 5* Hotel, Athens




2017

K29 Apartment Hotel, Athens




2018

License to operate as a REIC and an internally managed Alternative Investment Fund (AIF) from the HCMC




2019

15.10.2019 – Establishment of NOVAL PROPERTY REIC

Butterfly office building, Athens

The Orbit office building, Athens





2020

Merger of NOVAL PROPERTY with METEM, leading to 100% ownership of the River West Shopping Centre and the IKEA Megastore assets




2021

Completion of RIVER WEST expansion

€120 mn Green Bond Issuance

Acquisition of a prime land plot in Maroussi through “THE GRID SA“






2022

€21mn Share Capital Increase through in-kind contribution of assets and legal entities that hold real estate assets




2023

EBRD CBL of up to €10.5mn




2024

Mandra Logistics Centre, Attica
NOVAL PROPERTY listed on the ATHEX (IPO)





2025

Ardittos House, Athens
Office building Chimarras 16, Marousi





2026

Office building Kifisias 199, Marousi





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Board of Directors

The Company is governed by a 9 member Board of Directors, which is elected by the Ordinary General Meeting of Shareholders, with a term of one year.

Chairman of the BoD

Non-Executive member

Meletios Fikioris

Vice President

Executive member

Michael Panagis

Chief Executive Officer

Executive member

Georgios Koutsopodiotis
Non-Executive member

Maria Kapetanaki
Non-Executive member

Christoforos Stratos
Non-Executive member

Varvara Pagkoulaki
Independent non-executive member

Ioannis Stroutsis
Independent non-executive member
Senior Independent Director

Vasileios Loumiotis
Non-Executive member

Loukas Papazoglou

Corporate Governance

Noval Property has adopted a strong corporate governance framework, based on transparency, integrity, and accountability. With established processes and business practices that ensure continuous and effective operation, it aims to create long-term value for shareholders, employees, partners, and society.

The company is committed to following the highest standards of responsible management, enhancing the trust of all stakeholders. Sustainable development and business excellence are achieved through continuous improvement, adherence to best practices, and responsible management of the company’s environmental and social performance.

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