Intercontinental International REIC hereby informs the investors that it proceeded with the sale of 1 horizontal property (residence), with total surface 98.60 sqm located at 44, Fokianou street in Athens. The sale price reached 245.000,00€. The property was purchased during May 2018 for 145.000€. The Company achieved a net profit of 62% upon the purchase price including all relevant expenses within one year. The Chief Executive Officer of the Company Mr. Marios Apostolinas stated «There is an improvement in the market and our experience in all property types has been proved profitable. Meanwhile, we utilize our advantage as a REIC company to exempt capital gain taxes. The disposal of small non-core assets has a positive contribution to our dividend policy».
