FIA Corporations earmarks EUR 27mn for real estate projects
Greece’s FIA Corporation is planning to invest a total of EUR 22mn to EUR 27mn in two real estate projects in the country. The company plans to build a EUR 7mn business building. It would invest EUR 15mn to EUR 20mn in the construction of a complex comprising residential and trade areas through its local subsidiary United Constructions & Development LTD. FIA, which main activities comprise financial and insurance services, was established in 1998 and is headquartered in Thessaloniki . In March, FIA announced plans to invest EUR 11.8mn in the country in the next four years. On a separate note, Greece was ranked as sixth largest foreign investor in the country in Jan-Sep and accounts for a 6.1% share in total FDI (increase of 21.6% y/y to EUR 231mn). The country is the fourth largest foreign investor in the last 10 years.