Prodea Investments, a Greek real estate investment company, expects no more than a 10 percent drop in rental turnover due to measures introduced to combat the COVID-19 pandemic. According to its official 2019 results, that would mean a €13.5m reduction in rental income at its commercial properties and Prodea hotels. But the company warned it wouldn’t know the full extent of the losses until the government decides when it will allow stores and hotels to open up again. Prodea officials say the company will also have to weather the forced closure of two hotel resorts it owns in Cyprus which brought in €33m last year.
