Pasal Development, a real estate development and management company, was founded in 1991. Its shares are being traded on the Athens Stock Exchange since 2008.
In July 2020, Pasal successfully realised an Increase of its Share Capital by 10 mil. euro, with STERNER STENHUS GREECE AB acquiring a significant stake of 87.64%.
The Group’s growth relies on the creation of a property portfolio which will yield long-term value and minimise the investment risk by diversifying investments in various properties or fields, based on geographical criteria, type of usage, age of property, etc. and actively managing the portfolio by assessing the return of each property. Considering the long-term benefits for the Company and its shareholders, possibilities for alternative usage or even selling properties will also be explored.
The Group’s aim is to strengthen its portfolio mainly in three areas:
In the supply chain industry
In the office buildings and retail stores
Buildings of a Social nature
Buildings with a social identity, especially in the fields of education and health care (such as schools, hospitals, diagnostic clinics, nursing homes).