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Articles of Association

 

Babis Vovos - International Construction S.A. was incorporated in 1974 (Gov. Gaz., 64/01.02.1974) with the name Babis Vovos Helleniki Touristiki S.A., the principal shareholder being Charalampos Arm. Vovos.  Following a resolution of the 23.08.1999 General Meeting of Shareholders (Gov. Gaz. 8134/11.10.99), the name was changed to its current name.  B.V.I.C. is registered in the Municipality of Athens and its registered address is 340 Kifissias Avenues, Neo Psychiko.  It is also registered with the Registry of S.A.s of the Ministry for Development, registration number: Α.Ε. 2283/01/Β/86Β2282.  Its duration was set to 50 years, in other words until 2024. 

According to Article 4 of the Memorandum of Association, the object for which the Company is established is to develop urban or non urban real property and more particularity: 

To construct buildings or building complexes and holiday homes in any land whatsoever, either owned by the Company, acquired by it or owned by third physical or legal persons  the Company will contract with under the system of exchange of land for built space of equal value and in accordance with the provisions of Law 3741/1929 and of articles 1002 and 1117 of the Civil Code and to commercially exploit the above constructions through sale, lease or in any other manner it sees fit in their entirety or as separate outright ownerships.
To lease and subsequently sublease outright ownerships
To undertake the design, supervision and construction of any construction projects, through contracts awarded by physical persons, the State, Legal Entities under Public or Private Law, Communities and Associations of any persons.
The Company shall have power to do all things incidental or conducive to the attainment of the objects or any of them.
In support of the objects, the Company shall have the following powers: 

To participate in any companies which have objects similar to those of the Company, in any location.
To cooperate with any physical or legal person in any manner it sees fit.
To act in conjunction with domestic or foreign undertakings.
The objects of the Company were amended by a resolution passed in the 23.08.1999 Extraordinary Meeting (Gov. Gaz.  8134/11.10.99).

Babis Vovos - International Construction S.A. has been actively involved in the development of urban real estate for 25 years; initially from 1974 to 1983 on its own or later leveraged by  the General Partnership Babis Vovos International Construction S.A. & Co. G.p. (B.V.I.C. G.p.), which was formed by the Company and its principal shareholder Charalampos  Arm. Vovos in 1983. As of 01.01.2000 all activities relating to the development of urban real property are carried out solely by the Company. 

The total surface area of buildings constructed by the Company and B.V.I.C. G.p. is over 500,000 sq.m.