OTE, Greece's leading telecommunications group, recently received a comprehensive valuation report for its real estate portfolio from the Appraisal and Advisory Services Division of the National Bank of Greece.
The report, delivered in late June, determined that the fair market value of the portfolio held by OTE Estate stood at €1.23 billion at the end of 2024.
The assessment covered the company's entire portfolio, which includes 2,287 properties across the country. On-site inspections were conducted at 410 of these properties to support the analysis. The valuation process followed internationally recognized standards, including those of the Royal Institution of Chartered Surveyors (RICS), the International Valuation Standards Council (IVSC), and the European Valuation Standards (EVS). It also incorporated detailed urban planning, ownership, and economic data, along with a study of real estate market conditions in the locations where the properties are situated.
Compared to the previous year, the portfolio's value increased by €76.49 million, or 6.73%, up from approximately €1.14 billion in 2023. This marks the second consecutive year of notable growth—2023 had already seen a rise of €79.9 million over 2022—underscoring a sustained upward trend in the value of the group's property assets.
This year's increase was largely driven by a surge in the value of office properties, which were valued at around €428 million. This segment appears to be benefiting from strong demand for high-specification commercial space. Mixed-use properties also performed well, reaching a total valuation of €547.4 million, reflecting continued investor interest in versatile real estate assets that combine residential, commercial, or other uses.
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