Trastor , one of Greece ‘s leading investment groups with a portfolio of 60 high-quality properties valued at over half a billion euros, is expanding its operations to Cyprus following its recent acquisition of the Labs building Tower in Nicosia under agreement with Whitestreet Investments , a subsidiary of Globe Invest . This acquisition marks Trastor’s first entry into the international real estate market. CEO of Trastor , Tasos Kazinos noted that the expansion into Cyprus is an important step for the company. He emphasized that the Cypriot real estate market is attractive for many reasons, and the purchase of Labs The Tower serves as an example of future strategic investments focused on combining quality and quantity.
Trastor , listed on the Athens Stock Exchange since 2005, specializes in investments in luxury commercial real estate located in prestigious locations with reliable tenants. The company’s main goal is to generate high returns with minimal risk through strategic acquisitions and value-adding projects. The company currently manages a portfolio worth €536 million, mainly consisting of office space (53%) and logistics facilities (23%).
Since 2017, the company has significantly increased its assets, showing an annual growth of more than 32%. The main strategic objective for the next three years is to expand its assets to one billion euros, with plans to invest at least 150 million euros next year.
Trastor will continue to focus on acquiring office and logistics properties with high environmental standards, as well as energy efficiency projects . This is particularly important for Cyprus, where demand for environmentally friendly “green” buildings is growing.
Acquisition of the Labs building Tower and entering the Cyprus market became part of Trastor ‘s long-term investment strategy . This decision was not made by chance: Cyprus is considered a strategically important market, which is due to long-term economic relations with Greece and the active presence of Greek financial institutions on the island. The Cypriot economy, in which construction and real estate play a significant role, remains stable even in the context of regional geopolitical risks. These factors make the Cyprus market attractive to investors.
According to Trastor CEO Tasos For Kazinos , the expansion into Cyprus is not just adding a new asset to the company’s portfolio. It is an important step, demonstrating an example of the quality characteristics that will shape Trastor’s future investments . Investments are selected based on their location and potential for value appreciation. For example, Labs Tower , located in the business center of Nicosia, perfectly fits the company’s strategy. The building combines office space and residential real estate with the possibility of adapting to various needs, which opens up great prospects for increasing its value.
Trastor’s commercial real estate strategy in Cyprus is similar to its approach in Greece. The focus is on properties that have high potential for increased returns through active management and asset optimization. Trastor is not interested in properties whose prices already fully reflect future returns.
In addition, the company believes that the low capital yield of properties in Cyprus is due to a number of factors, including the stability of the economy and the government’s efforts to attract foreign investors. However, in recent years, changes in interest rates and the impact of global events such as the war in Ukraine have led to price adjustments in the Cyprus property market, which has reduced the gap between the yields of Cypriot and Greek properties.
Despite these changes, Trastor continues to seek out promising investment opportunities in the Cyprus market, particularly in the office sector where additional benefits from increased rental rates are possible.
Trastor sees Limassol as an attractive destination for further investment. While the office market in Nicosia is showing steady growth, generating demand for luxury offices, Limassol is attracting the attention of international companies who choose the city as a regional hub for their offices. This is especially true for fintech companies and start-ups , driving demand for flexible office solutions and modern workspaces.
A particular feature of Limassol is the limited number of available building plots in the city centre, which leads to the need to consider infrastructure development on the outskirts. This shortage of properties also results in higher rental rates, which are double those of similar premises in Nicosia.
Trastor is interested in projects in Limassol due to its rapidly developing role as a regional technology hub. The company sees potential in expanding its office space offering to include both standard offices and co-working spaces .
Regarding green real estate projects in Cyprus, Trastor acknowledges that such investments can generate high returns, especially in developing and underserved regions. However, the company prefers to avoid full-scale immersion in green construction projects due to the higher risks and costs. Instead, Trastor plans to collaborate with local partners who have already established themselves in the market and participate in projects with minimal risks during the construction and implementation phase.
