Real Estate category powered by

Prodea acquires control over Parklane, Aphrodite Hills and The Landmark Nicosia

YODA Plc has sold 55% of MHV Mediterranean Hospitality Venture PLC to Prodea Real Estate Investment Company S.A.

The transaction, which was announced on the Cyprus Stock Exchange (CSE), is subject to approval by the Cyprus Securities and Exchange Commission (CySEC) and the Committee for the Protection of Competition.

MHV is active in the hospitality and real estate sectors of Cyprus and Greece, counting a number of luxury hotels and resorts, residential complexes and offices in its portfolio. In Cyprus, it owns the Parklane, Aphrodite Hills and The Landmark Nicosia.

MHV Mediterranean Hospitality Venture PLC was recently listed on the CSE’s Emerging Companies Market, while Prodeo is listed on the Athens Stock Exchange.

If approved, the transaction is expected to be completed in the first quarter of 2024 and once complete, Prodea Investments will hold an 80% stake in MHV.

Read More

Christoforos Soutzis on how Limassol-based has emerged as one of Europe's top trading platforms
Construction value added up 8.9% in 2022
The buildings taking Limassol onwards and upwards
Official data show increase of economic activity in all sectors in 2022
Real estate investment opportunities by AstroBank in Paphos, Famagusta and Nicosia
Seasonality leading to €25m loss this year, PASYXE President estimates
Deputy Minister welcomes Cyprus' 'Digital Decade of Europe' progress
Plenum to ratify agreement bringing US visa waiver closer
Cyprus' status as a ‘Strong Innovator’ highlights increased potential, RIF says
Stewart to brief UN Security Council ahead of Mitsotakis meeting with Guterres