Greca Developments, a real estate firm specializing in transforming central Athens buildings into modern residences, announced the launch of 150 new residential units as part of its expansion strategy, Invest-Gate reports.

Ahmed Abbassi, Founder and CEO of Greca Developments, said the project builds on the company’s record of 15 completed buildings comprising 300 units, with total investments exceeding EUR 50 mn. The firm has also allocated EUR 30 mn for upcoming projects and owns five land plots in Greece, covering 4,000 sqm, for future development.

Abbassi stressed that Greca’s operations in Egypt focus solely on marketing international real estate opportunities, catering mainly to Egyptians seeking stable returns, European residency, and wider global mobility. Egyptians currently account for 80% of the company’s clients, followed by Turkish investors. To strengthen its presence, Greca plans to open a Cairo office by Q4 2026, shifting from virtual to in-person consultations.

As part of its market push, Greca will participate in Cityscape 2025 in September (Hall 4, Booth A.02), offering an exclusive 5% discount on showcased units. Abbassi highlighted that investors can earn annual returns of up to 6.5% while qualifying for Greek residency, renewable every five years, with visa-free access to 29 Schengen countries.

He added that Greca’s fully managed investment model—covering rentals, maintenance, and income transfers—ensures a seamless experience. The company’s focus on converting commercial properties into residences directly aligns with Greece’s updated Golden Visa laws. While new builds now require a minimum EUR 800,000 investment, conversions remain eligible at the EUR 250,000 threshold. Abbassi noted that Greca is among the few developers consistently able to offer properties at this entry point.

Abbassi concluded by reaffirming Greca Developments’ commitment to expanding in Egypt and delivering secure, long-term investment opportunities in the EU through Greece.