Intercontinental International Real Estate Investment Company (ATSE:INTERCO) was declared as the preferred bidder for the acquisition of standalone commercial building in Athens from Piraeus Real Estate S.A. for €5.9 million on November 14, 2019. Intercontinental International Real Estate Investment Company (ATSE:INTERCO) cancelled the acquisition of standalone commercial building in Athens from Piraeus Real Estate S.A. on May 29, 2020. On the basis of current economic sentiment effected by SARS COVID-19 pandemic and after respective discussions with the organizer of the public tender, Intercontinental International Real Estate Investment Company not proceed with the acquisition of the said property.