Design & Development PANEL 2: 17:25-18:15

Development: Discussion: Industrial Real Estate - Reindustrialization of areas

This panel approaches Greek industrial real estate as a distinct investment thesis within a broader European portfolio context, with the objective of assessing its structural maturity and its capacity to absorb institutional capital at scale. The core question does not concern the mere presence of projects, but the formation of investment depth: which sub-segments—logistics infrastructure, data center ecosystems, energy-linked industrial facilities—demonstrate durable demand, credit quality, and refinancing ability.

The discussion situates Greek assets within a comparative European framework, examining their alignment with core and core-plus strategies, the quality and upgradeability of stock, the availability of land and power at appropriate spatial scale, connectivity to ports and major transport corridors, and the stability of the regulatory environment in light of ESG taxonomy alignment and institutional reporting requirements. Valuation is framed in terms of risk-adjusted return rather than nominal yield.

Representatives of METLEN, Digital Realty, Dromeus Capital, Karpathios Development and Trade Estates contribute experience spanning energy-intensive industrial infrastructure, hyperscale and carrier-neutral data center campuses, organized logistics parks, and distribution networks integrated with omnichannel retail. The conversation addresses lease structures and covenant strength, anchor tenant and operator relationships, financing at project versus platform level, and risk allocation among developer, equity partner, and lender.

Particular emphasis is placed on the areas where further institutional maturation remains necessary: spatial planning clarity, acceleration of permitting procedures, technical specifications aligned with international standards, adequacy of power capacity, and integration with grid infrastructure. The central objective is the transition from isolated transactions to scalable investment platforms supported by pipeline visibility, governance robustness, and credible exit pathways.

Under the moderation of Stefania Souki, the panel remains firmly positioned within an investment horizon: which segment of the Greek industrial market can sustain a coherent allocation strategy, under what IRR and DPI targets, within which risk profile, and under what institutional preconditions Greece may integrate structurally—rather than episodically—into the European industrial allocation map.

Guests include:

Ekeftherios Vassalos, Construction Director, Digital Realty

Vassilis Tsilimpis, Partner, Dromeus Capital

Sofia Roka, Head of Architectural Design, Construction, and Development, KARPATHIOS DEVELOPMENT

Panel moderator: Stefania Souki, journalist, Proto Thema and newmoney.gr

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The CODE Forum – Construction & Development Forum is the hub for strategic dialogue and business collaboration in the AEC+D sector (Architecture, Engineering, Construction, and Development), focusing on the connection between investors, technical readiness, and construction efficiency.