2024 is looking positive for Orilina, according to BnB Daily, as the value of its portfolio, which now exceeds €150 million, is increasing. 

The company is moving forward with its planning, which includes major projects, revenue growth, and further improvement of its balance sheet. Interest rate cuts are also coming this year, which will boost the real estate sector and therefore this company. 

MARINA RESIDENCES

The company received a deposit for the sale of a future apartment in the residential complex under development, "Marina Residences by Kengo Kuma.".  The apartment will be located in building A of the bioclimatic development in the marina of St. Kosmas and will have three parking spaces, a storage room, a roof garden, and a swimming pool. The transaction price is €6.21 million.

PROJECTS IN GREECE

The company is proceeding with the two investments of €77.4 million in Elliniko. These two five-star projects are expected to be financed from the funds raised by the company from its listing on the Athens Stock Exchange. These funds amount to €30.6 million, while building permits have already been issued for the luxury complex of 20 residential units being developed at the Agios Kosmas Marina.

THE PRIVATE CLUB

The other project concerns the construction of a private members' club, an investment of more than €20 million that is expected to be financed 27% by equity and 73% by debt. The completion of the project is, barring any contingencies, expected in 2026. The Private Members' Club will have proximity to and views of the Elliniko Marina and Riviera Galleria and is expected to include, among others, restaurants, swimming pools, courts, 1 outdoor gym, and many outdoor recreational areas for its members.

THESSALONIKI

The company also aims to develop in Thessaloniki. It has purchased property in Tsimiski while planning major projects in collaboration with Lamda Development. In Eastern Thessaloniki, it is planning a large retail park through a special purpose company that owns 72,121 sqm of land next to the Mediterranean Cosmos shopping centre. Orilina has 80% of the special purpose company, and Lamda has 20%. Finally, another planned investment has to do with a logistics centre on the 46,8 km2 plot of land acquired by the company on the provincial road from Halastra to Sindos.