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Strategic Collaboration between Invel Real Estate, PRODEA Investments and Ioannis Papalekas Group
April 12, 2021
In the context of their strategic collaboration in the hospitality sector, Invel Real Estate, PRODEA Investments and the Cypriot based “YODA Group” of Mr. Ioannis Papalekas announce the conclusion of the acquisition of 45% of PRODEA’s interest in Mediterranean Hospitality Venture Limited (MHV) by a subsidiary of YODA Group. PRODEA Investments retains 45% in MHV while Invel Real Estate 10%, through a subsidiary.
MHV, the sole shareholder of The Cyprus Tourism Development Company Limited, which owns The Landmark Nicosia, is the joint investment vehicle of the three shareholders in the hospitality and tourism sector in the wider Mediterranean market.