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Iaso Considers Establishing Real Estate Investment Company

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Health service provider Iaso considers establishing a real estate investment company to exploit its property., according to Iaso CEO Takis Gianniris who spoke at the companys presentation yesterday. The real estate investment company will be listed on ASE in the long run.

 

Iaso owns unused property worth 150-170 million euro, according to the companys assessment.

 

By establishing a real estate investment company, the group will have tax benefits of around 1.5 million euro annually. At the same time, working capitals profitability will be significantly improved.

 

Iaso owns two land plots in Athens and one in Thessaloniki, which are not used. The 53,000 sq m property in Thermi, Thessaloniki was initially bought for the construction of a maternity clinic which was not built. The other two properties are located in Marousi and in Vari. The Marousi plot lies next to Iaso hospital and is currently used as parking space.

 

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