Real Estate

The Greek Real Estate market is evolving and is becoming even more complex as global and domestic appetite for Real Estate assets is increasing. Greece is on the international spotlight both in respect of tourism-oriented and business-oriented Real Estate investments.

Our Real Estate team’s solid expertise has guaranteed and led the success of several of the transactions undertaken by our Firm, in most cases supported through the optimal cooperation of our Firm’s other practices (Corporate & Commercial Law, M&A, Tax, Banking & Finance etc.). Koutalidis Law Firm is ideally placed to provide fine-tuned and commercially-focused advice offering cross-border and local transactions clear, practical, easy to implement and value-adding solutions.

Our team comprises of leading lawyers who possess a thorough understanding of the latest developments in the Real Estate practice, as well as broad experience in highly structured Real Estate transactions involving sophisticated financing arrangements and Real Estate related complex structuring and implementation.

We represent developers, owners, large corporates, major credit and financial institutions, government institutions, investors, including private equity, REITs and borrowers, shopping mall operators, high street and luxury retailers across all segments of the Real Estate market.


We employ our broad expertise, our cross-team culture and dedication to provide our clients Real Estate services, including:

  • acquisition and disposal of properties of any kind,
  • terms of sale & purchase agreements,
  • due diligence on ownership titles, certificates and land registry and cadastral books,
  • terms of lease agreements and commercial cooperation agreements,
  • terms of lease or concession of use of Real Estate properties owned by the Greek State,
  • M&A transactions,
  • compliance with planning and zoning legislation,
  • terms of expropriation,
  • terms of construction agreements and sub-contracts,
  • terms of Real Estate management agreements,
  • Real Estate related litigation,
  • Real Estate finance and securitization,
  • leasing and sale-and lease-back schemes,
  • setting up of companies, special purpose vehicles and joint ventures to accommodate new Real Estate projects,
  • Real Estate taxation.
View Practice Highlights

We take pride in advising on key Real Estate issues for a broad range of clients.

  • Advising Lamda Development on legal issues related to the development of the former Hellinikon airport, one of the largest projects ever tendered in Greece with an investment amounting to €8bn.
  • Defending landowner (listed company Kekrops S.A.) against claims of the Greek State with respect to land of a value above €200 million. The case was won before the Supreme Court of Greece and has been referred to the Court of Appeals for retrial, was won before the Court of Appeals and is now again pending before the Supreme Court of Greece.
  • Advising a major Real Estate fund (Bluehouse) on the acquisition of real estate companies owning/operating shopping malls and strategic assets in Athens through private tenders.
  • Advising a major international company (Selina Operations) on the development of hotels and ancillary businesses in Greece.
  • Advising a major international company (Acanthe Development/Alliance Development Capital) on the acquisition of a multi-floor office building in the centre of Athens with a value of more than 2.5 million.
  • Successful litigation on behalf of China Three Gorges Corporation (one of the largest energy producers in the world) with respect to the lease amounts that they are paying with respect to PV parks they have in Greece (these parks are some of the biggest ones in Greece).
  • Representing a Greek Real Estate company (Crete Golf S.A.) in a €25 million case against the local Municipality before the competent Greek Court of Appeals and the Supreme Court of Greece.
  • Representing the Hellenic Republic Asset Development Fund (HRADF) in litigation proceedings against a claim filed by the Hellenic Olympic Committee, in which the latter was requesting to receive the tenure of a very important real estate property in Athens as well as the amount of €90 million.
  • Advising Frank E. Basil S.A. in connection with the Goulandris Museum of Contemporary Art project.
  • Acting as Greek legal advisor to the Finance Parties (initially comprised of the National Bank of Greece and Piraeus Bank) regarding the extension until June 11th, 2046 of the term of the Airport Development Agreement (ADA) relating to the management and operation of the Athens International Airport.
  • Assisting Fraport Greece (affiliate of Fraport AG, which has entered into a concession agreement with the Greek State) in the negotiation of the construction contracts relating to refurbishment and expansion works of 14 Greek airports.
  • Representing landowner listed company for the reversal of expropriations on immovable property in Athens.
  • Engagement by the owners of large areas in a Greek island in respect of the ownership status as well as the possibility of classifying such areas (or part of them) as “forests” or not, pursuant to the relevant legislative arrangements applicable over time as of the founding of the Greek State.
  • Advising Aegean Motorway S.A. on Real Estate issues, including expropriation of property.
  • Advising McArthurGlen Group, the leading developer, owner and manager of designer outlet villages in Europe with the development of a new outlet centre in Athens. Since the opening of the respective outlet centre in 2011 our Firm has been assisting McArthurGlen Greece in its daily operation filing various lawsuits and conducting continuous real estate related litigation for the expulsion of delinquent tenants/shopkeepers and for the repossession of various retail units situated at the site of the outlet.