Prodea Real Estate Investment Company, which also has significant business interests in Cyprus, has announced that it has disposed a real estate portfolio of market value of €676m through the sale of 100% shares of each Greek subsidiary, Milora Single Member Societe Anonyme to VYP Group Ltd, a member of the group Yoda Plc.
Prodea also proceeded with the sale of its 30% stake in Piraeus Tower S.A., owner of the office building with the same name in Piraeus, Greece, to VYP for an underlying value of the real estate asset of €107m.
The main shareholder of Yoda is Ioannis Papalekas, pictured above left, with Christophoros Papachristophorou, Executive Chairman of the Board of Directors & Chairman of the Investment Committee of Prodea also pictured, and Piraeus Tower in the background.
According to an announcement from Prodea, as part of the same transaction, it has acquired 30% of MHV Bluekey One Single Member S.A., a Greek company that owns Porto Paros Resort in Paros. It is noted that Prodea through its hospitality arm, Mediterranean Hospitality Venture, already owns 70% of Bluekey One. As a result, Prodea, through its wider group, owns 100% of Porto Paros Resort and will proceed with its redevelopment in the immediate future, the announcement said.
The company's full announceemnt can be read below:
The company under the name “Prodea Real Estate Investment Company Societe Anonyme” (“the Company” or “Prodea”) announces to investors, in accordance with the provisions of Regulation 596/2014 and its delegated implementing regulations, and Law 3556/2007 regarding the disclosure of regulated information, that on 5th December, 2025 it proceeded with the following: The Company disposed a real estate portfolio of market value of €676m (as at 30.06.2025) through the sale of 100% shares of each Greek subsidiary, Milora Single Member Societe Anonyme (“Milora”) to VYP Group Ltd (“VYP”), a member of the group Yoda Plc.
As part of the same transaction, the Company acquired 30% of MHV Bluekey One Single Member S.A. (“Bluekey One”), a Greek company that owns Porto Paros Resort in Paros. It is noted that the Company, through its hospitality arm, Mediterranean Hospitality Venture, already owns 70% of Bluekey One. As a result, the Company, through its wider group, owns 100% of Porto Paros Resort and will proceed with its redevelopment in the immediate future.
Furthermore, the Company proceeded with the sale of its 30% stake in Piraeus Tower S.A. (“Piraeus Tower”), owner of the office building with the same name in Piraeus, Greece, to VYP for an underlying value of the real estate asset of €107m (on a 100% basis).
Finally, the Company disposed its 80.48% stake in the Italian real estate fund lntracento - Fondo Comune di lnvestimento Alternative lmmobiliare di Tipo Chiuso Riservato (“lntracento”), owner of an office building in Rome with a market value of €46m (as at 30.06.2025). All the above transactions fall within the Company’s strategy to focus on investments in the hospitality and logistics sectors.
