Major pre-let signed by BVIC with media markt (GR)

The management of Babis Vovos International Construction S.A. announces that Media Markt will open its first store in Athens, in the commercial complex being developed at 49 Kifissias Avenue, Maroussi, Athens.

The German retailer has signed a 12 year lease for 4,758 m² of retail space and 1,342 m² of storage space, currently being developed by BVIC. Media Markt will occupy 54% of the lettable area of the complex, which has a total parking capacity of 548 spaces.

BVIC acquired the land plot of 11,000 m² in January 2005, and has already completed 30% of the 8,800 m² 3 floor development. The construction will be completed by October 2005, allowing the retailer to move in before the Christmas sales period commences.

Mr. Aris Vovos, BVIC's CEO says:
"We are delighted that one of Europe's leading electronics retailers has chosen BVIC's development at 49 Kifissias Avenue to open their first store in Athens. This letting confirms BVIC's strategy of providing blue chip tenants with the best buildings in the best locations. Media Markt's strong brand name will increase the attractiveness of the complex, ensuring a strong retail line-up for the centre. BVIC's ability to secure a pre-let so soon after having acquired the site, and so early in the development stage, is an endorsement of the strong demand for our product."

Source: Babis Vovos

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