Cyprus-based advanced living concepts firm Zoia is investing in Greek properties with a focus on Athens, aiming to tap into a growing rental market.
Speaking at the Prodexpo 2019 conference, which took place at the Athens Concert Hall recently, founder and managing partner at Zoia, Sagi Rubin said the company believes in the potential of Athens’ neighborhoods, where it has already purchased and is refurbishing 35 buildings.
Zoia has invested in real estate primarily in the heart of Athens, including Kallithea, Exarcheia, Koukaki, Lycabettus, and Kolonaki, and after remodelling is complete, rents out the flats mainly to millennial clients.
The idea behind the remodelling and renovation focuses on retaining elements of the past while incorporating advanced living concepts to create a community-centered lifestyle.
“We want the property to be returned to Athens residents at a time when everyone is investing in hotels,” he said, adding that the Greek capital could attract millions of euros in investment in the coming years, following the examples of other major European cities, such as Madrid.
Founded by Rubin and Amir Yerushalmi, Zoia has completed a total of 2.5 billion euros in real estate investments in six countries.