Noval Property: 27% Increase in Operating Profitability by 2025
In 2025, Noval Property reported a 27% increase in operating profitability, with rental income rising to €37.8 million, reflecting effective asset management and high portfolio quality.
In a recent announcement, Noval Property reported a significant increase in rental income for the period ending December 31, 2025, with a rise of €4.4 million (13%) leading to total revenues of €37.8 million compared to €33.4 million in 2024. This growth is attributed to the company's proactive asset management strategies, which have facilitated the establishment of new leasing agreements and the renewal or replacement of existing contracts under more favorable conditions. Additionally, an increase in the turnover of tenants contributed to boosting income from variable rents.
In 2025, Noval Property also introduced two new properties to the market. Notably, the mixed-use building "Ardittos House" located in Mets, Athens, which features luxury residences and modern office spaces, was completed in the first half of the year, achieving an occupancy rate of approximately 60% by December 31, 2025. The introduction of these new assets not only expands the company's portfolio but also indicates a strategic approach to capturing market demand in high-end real estate sectors.
Overall, Noval Property's reported increase in operating profitability and the successful launch of new properties highlight the company's ability to navigate the competitive real estate landscape in Greece. This positive performance underscores the potential for sustained growth in the sector, as companies like Noval continue to enhance their offerings and adapt to changing market conditions.