Grivalia Properties group has begun a €10m investment program which will improve the thermal efficiency of its properties. The program aims to reduce the total energy consumption of its portfolio by 30 percent. Grivalia’s management expects the improvements could help the buildings raise the rents they can charge, thereby increasing their potential sales price by somewhere between 3 percent to 7 percent. The Greek company also expects that such investments will help improve its chances attracting multinational tenants, as they usually have strict quality and environmental criteria for the properties they lease.
According to George Chrysikos, managing director of Grivalia, these investments and improvements will be done in stages, with key. He says the program will align the group with global trends in terms of operating high energy class properties that are environmentally sustainable and have low energy costs. Grivalia Group is listed on the Athens Stock Exchange Market.
