Mercan expands its investment strategy in Greece

The international group sees Greece as a natural next step in its European expansion, following its experience developing projects in Portugal.

For Theodoros Kioutsoukis, President of Mercan Capital Greece, the country combines several factors that make it attractive to the group, including its tourism industry, real estate market and regulatory framework supporting the conversion of commercial and industrial buildings into residential developments.

Having completed similar regeneration projects in Portugal, Mercan now intends to apply that experience in Greece while expanding its presence in the country’s property and tourism sectors.

Urban regeneration

The company plans to establish a diversified portfolio in Greece spanning residential properties, hotels and mixed-use projects, with a focus on investments that it says can create long-term value for investors, communities and the Greek economy.

A significant part of this strategy involves transforming existing buildings rather than focusing only on new construction.

Projects such as Keranis Residences reflect Mercan’s interest in brownfield redevelopment, which involves bringing existing or unused sites back into productive use.

According to Kioutsoukis, this approach can help bring idle buildings back to life, preserve urban heritage and increase housing supply.

Mercan also sees these projects as a way of contributing to the regeneration of neighbourhoods while combining economic returns with what the company describes as a positive social impact.

Respecting the areas surrounding its developments is another part of the group’s strategy.

Kioutsoukis said Mercan focuses on integrating projects into the existing urban environment, preserving landmark buildings where it’s possible, creating employment and stimulating local businesses.

The company’s aim, he said, is for its developments to contribute to residents’ quality of life while supporting the long-term growth of the destinations where Mercan operates.

Investment model

Mercan’s investment model in Greece combines its international development experience with assets selected in locations where the company sees strong demand.

Its strategy centres particularly on urban regeneration and hospitality projects.

According to Kioutsoukis, some investments may also qualify for Greece’s €250,000 Golden Visa programme. According to the company, Mercan also offers investors a guaranteed annual yield of 3 percent until project stabilisation, while managing rental operations on their behalf.

When selecting developments, Mercan considers factors including location, connectivity, long-term market demand and the potential urban impact of a project.

The group says it looks for assets with strong redevelopment potential while seeking to ensure projects meet its quality standards and respond to housing or tourism demand.

Kioutsoukis also points to Greece’s tourism performance and demand for quality real estate as factors supporting Mercan’s investment strategy.

Expansion across Greece

Mercan is pursuing developments in Piraeus and Corfu, but its ambitions extend beyond these locations. The group is exploring further opportunities both on the Greek mainland and on the islands.

Its areas of interest include urban regeneration, high-quality hospitality developments and residential properties, particularly those located close to universities, transport hubs and established tourism destinations.

Among Mercan’s immediate priorities is the delivery of its flagship developments, including Keranis Residences. The group is also working towards completing the extensive renovation and expansion of Wyndham Corfu Acharavi.

Alongside these projects, Mercan plans to expand its portfolio across Greece and strengthen partnerships with international hotel brands.

Kioutsoukis said the company will continue looking for projects that combine commercial performance with sustainable urban regeneration.

European growth

Greece is also intended to play a wider role in Mercan’s international expansion. The company considers the country a strategic pillar of its European growth plans and sees it as a long-term market rather than a short-term investment opportunity.

Building on its activities in Portugal, Mercan plans to use its international experience to develop further residential and hospitality projects in Greece.

Kioutsoukis said the group ultimately wants its Greek investments to contribute not only to Mercan’s own European portfolio but also to Greece’s position as a destination for international investment.

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