Our Company

Our story
Our journey

Noval Property is a Real Estate Investment Company (R.E.I.C.) in Greece, established in 2019 and listed on the Euronext Athens since June 2024. It holds a resilient and diversified real estate portfolio, delivering stable returns and offering long-term growth prospects.
The company continues to execute its strategic growth plan by investing in modern, environmentally certified properties and further enhancing its real estate portfolio.
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. Noval Property is a subsidiary of Viohalco S.A., a holding company of leading metal processing companies in Europe.

Our Mission

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.

Our Values

Sustainable development,
Innovation, Trust, Empowering people

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 that 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.

Excellence is the prerequisite to success

With people at the heart of everything we do, we select top professionals, recognize their talents, and provide them with continuous support to help them grow and develop. We pursue excellence at every stage of our projects, ensuring high quality, accountability, and continuous improvement across every area of our operations.

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.

Timeline

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 Board of Directors is elected by the Annual General Meeting of Shareholders for a one-year term.

Chairman of the BoD

Non-Executive member

Meletios Fikioris

Vice President

Non-Executive member
Michael Panagis

Chief Executive Officer

Executive member
Chief Executive Officer
Georgios Koutsopodiotis
Non-Executive member
Maria Kapetanaki
Non-Executive member

Varvara Pagkoulaki
Independent, non-executive member
Ioannis Stroutsis
Independent, non-executive member
Senior Independent Director
Vasileios Loumiotis
Independent, 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.