This year's figures are positive for TEMES, which last year closed the financial year with adjusted revenues of €140.74 million, up from €135.58 million in 2022, and adjusted EBITDA of €18.77 million, compared to €19.74 million in the previous year.

Within the next five years, the group will complete its major projects. 

THE ILISIAN

On the hotel side, Ionian Hotel Enterprises (where TEMES owns 51%) is developing the new destination The Ilisian in central Athens, with an operational horizon of the end of 2025.

This is a €340 million strategic investment by TEMES and Olayan Group, which will include:

• The new Conrad Athens hotel boasts 278 rooms and suites with unique views of Athens, including a 400-square-meter mega suite.
• 18 private residences Conrad Residences and 37 Waldorf Astoria Residences, on the highest floors of the building
• Restaurants
• sports and wellness facilities
• selected shops for shopping
• conference facilities
• a modern members' club

GREEK

In the Ellinikon project, TEMES (with a 70% stake) is partnering with Lamda Development to develop two luxury hotels and branded residences (the first has already been announced; it will be the Mandarin Oriental, Athens), with a target opening date of 2028.

REAL ESTATE

Real estate activity in Costa Navarino continues its upward trend this year, as sales of the most recent residential proposal with turn-key homes have exceeded 50%. The construction of these residences in the Valley Greens neighborhood, the first area of Costa Navarino, will conclude in 2026.

Buyers' interest in acquiring a home (both for turn-key villas and for homes offered by design and providing owners with many configuration possibilities) comes from both Greece and abroad (around 50-50), with a notable increase from buyers from Switzerland and England, more broadly Central and Northern Europe, as well as from the USA.

ATHENIAN RIBEIRA

In the Athenian Riviera, the redevelopment of Voula Beach B through Athens Beach Club (in which TEMES, Intracom Ventures and Litti Enterprises are equally involved) is currently underway and is expected to be operational within 2026.