This newsletter examines the recent overhaul of Greece’s legal framework for Real Estate Investment Companies (REICs) under Law 5193/2025. The reform introduces expanded investment capabilities, including renewable energy infrastructure and data centers, while significantly increasing minimum capital requirements to €40 million. It also updates rules on related party transactions, narrows definitions for conflict-of-interest purposes, and enhances transparency obligations. New limits on investment concentrations and broader valuation flexibility aim to modernize market operations. Strengthened supervisory powers for the Hellenic Capital Market Commission underscore a shift toward greater accountability and resilience in the sector.