Siemens and PRODEA Investments - creating smart, sustainable solutions for the future

Press Release

July06, 2023

Smart Infrastructure

Siemens partners with PRODEA Investments to create smart and sustainable buildings in Greece

Siemens, a leading global technology company in infrastructure, mobility and industry, has partnered with PRODEA Investments, a leading real estate investment company in Greece and one of the largest in Southeast Europe, to implement Siemens' Building X digital building platform. The partnership aims to accelerate PRODEA Investments' digital transformation and reduce the carbon footprint of existing and developed buildings in its real estate portfolio in Greece, as well as provide value-added services for tenants. Building X from Siemens Smart Infrastructure is a scalable platform for digitizing, managing and optimizing building operations to improve user comfort, performance and sustainability. It is part of the Siemens Xcelerator digital business platform, which helps customers realize digital transformation easier, faster and at scale.

The two companies signed a Strategic Collaboration Agreement that begins with the pilot implementation of Building X, which includes connecting PRODEA Investments' two facilities in Athens: their headquarters and the Ilida building, where Siemens Greece is headquartered. PRODEA Investments aims to further connect the large office buildings of its portfolio, as well as buildings for various purposes such as logistics centers and hotels. Building X can be implemented in buildings of various sizes and connectivity requirements. PRODEA Investments CEO, Dr. Aris Karitinos, stated, "PRODEA Investments is dynamically entering the era of the Fourth Industrial Revolution by leveraging the high expertise of Siemens. It innovates to serve its strategy of creating more sustainable and user-centered buildings. This collaboration utilizes technology as a sustainability gas pedal. It's a move that generally promotes fintech in real estate. "

"We are excited to launch this partnership and co-creation with PRODEA Investments to accelerate their digital transformation with Building X. Siemens' ability to bridge the real and digital worlds makes it a strong partner for companies looking to get the most out of their physical assets while addressing decarbonization challenges. We look forward to the close collaboration at the facility and engineering level between PRODEA Investments and Siemens to deliver energy reduction, sustainability and lower total cost of building ownership, as well as improved portfolio valuation for PRODEA Investments," said Rahul Chillar, Head of Building X at Siemens Smart Infrastructure.

Building X is a modular, fully cloud-based, open platform with artificial intelligence and strong connectivity that provides a seamless experience across all applications such as energy management, security and building operations. With Building X, PRODEA Investments will be able to make energy management decisions for its portfolio of buildings based on real-world data analytics. Building X will help the company achieve its sustainability goals for buildings and provide additional innovative services to tenants while maintaining high safety standards. Using artificial intelligence as part of the Building X platform will enable PRODEA Investments to identify areas of excessive energy consumption and accurately predict the energy performance of its buildings based on real-world usage data.

Siemens AG (Berlin and Munich) is a technology company specializing in industry, infrastructure, transportation and healthcare.

Siemens Smart Infrastructure (SI) is shaping the smart and adaptive infrastructure market of the present and future. It addresses the current challenges of urbanization and climate change by linking energy systems, buildings and industry. SI offers customers a comprehensive portfolio from power generation to consumption - with products, systems, solutions and services from the point of power generation to the point of consumption. With an increasingly digitalized ecosystem, it helps customers thrive and societies evolve, contributing to the protection of the planet. Siemens Smart Infrastructure is globally headquartered in Zug, Switzerland. As of September 30, 2022, the company employed approximately 72,700 people worldwide.

PRODEA Investments is a leading real estate investment company in Greece listed on the Athens Stock Exchange (ATHEX). The company's total assets exceed €3.0 billion. Prodea Investments Group is engaged in real estate investments and is managed by internal professionals with expertise in sourcing, execution and value creation. PRODEA Investments' real estate portfolio includes over 380 commercial properties, mainly office, hospitality and retail, and is rapidly expanding in the logistics and residential sectors. Over 80% of the company's portfolio is located in prestigious urban areas throughout Greece and Cyprus, and is also positioned in other key markets in South East Europe such as Italy. PRODEA Investments boasts a high quality, high yield portfolio with predictable cash flows driven by high occupancy, long-term leases and a strong client base.

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