George Prokopiou: The ‘king of real estate’ with investments in 2,500 properties worldwide

Prokopiou has been called the ‘king’ of real estate for his investments in thousands of properties around the world, approximately 2,500, and has reportedly paid more than 20 million euros to acquire an apartment in the prestigious One Hyde Park complex in Knightsbridge, London.

He is said to have recently completed a deal acquiring more than 30% of Astera Vouliagmenis. Prokopiou first came into the public eye with his purchase of the Skaramagas shipyards. The three companies of its group – Dynagas, Dynacom and Sea Traders – manage a fleet of 135 ships.

Background and career

George Prokopiou born on June 8, 1946 in Athens. Both of his parents were refugees, with his father from Smyrna and his mother from Odessa.

He bought his first ship in 1971, called a tanker Pennsylvania. He founded three companies: Dynacom Tankers, Sea Traders and Dynagas. In June 2014, Dynacom Tankers had 54 ships, Sea Traders had 29 and Dynagas operated 10 LNG ships, including four newbuilds.

As of March 2015, his net worth was $2 billion and his companies owned 89 ships, according to Bloomberg. In 2016, Lloyd’s List ranked him 12th on their list of the 100 most influential people in the global shipping industry – a list he consistently appeared on from 2012 through 2023. Prokopiou was also a board member of the Union of Greek Shipowners. In 2021 he became owner of Skaramagas Shipyards.

Prokopiou’s expanding shipbuilding program

Prokopiou’s current shipbuilding program includes more than 70 ships, with a mix of very large crude carriers (VLCCs), long-range Suezmax and product tankers, LNG carriers and an order book for 30 bulk carriers.

He often dedicates his awards to Glyfada, his birthplace, saying: “This award is dedicated to Glyfada, where I was born and raised. There I fell in love with the sea and learned that it unites continents, cultures and people. Unfortunately, not everyone realizes that cooperation and constructive, well-intentioned dialogue is the only path to prosperity and problem solving.

Greek-owned shipping, a major diplomatic asset of Hellenism, has the potential to smooth out aggressive behavior.” He added: “After 74 years in the shipping industry I can say that I have turned my hobby into my profession. I only regret what I didn’t do, not what I did do. I hope and pray for the time to achieve my dreams. I would like to thank my wife Alexandra and my four daughters – Eliza, Ioanna, Marina and Marie-Elena – who have embraced the path I have chosen and are now following it themselves.”

A double honor

In December 2023, Prokopiou was named “Greek Personality of the Year” for the second time at the Lloyd’s Awards. During the event, he noted: “Greece, a small country with limited imports and exports and no shipbuilding industry, ranks first in the global shipping industry.

I was under the illusion that the era of conflict was over and that we had entered an era of cooperation. I was wrong. I dream that one day everyone will embrace that cooperation, dialogue and compromise are the best ways to build a better world.”

Nigel Lowry, the organizer of the awards, commented: “The hopes of Greek shipyards for a long-awaited revival of the shipbuilding industry rest on the shoulders of George Prokopiou.” He added: “He is the first to be voted Greek Personality of the Year twice.”

Lifetime Achievement Awards and Lasting Impact

In July 2023, Prokopiou received the prestigious Efkranti Award for his lifetime contribution to shipping at the Hellenic Naval Academy. His childhood friend, Thanasis Martinos, introduced him and said, “George and I have been friends for over 50 years. Our families were close by, away from our neighborhood on Glyfada beach.

Besides his family, George’s greatest love has always been the sea. As a boy he was a sailor and diver and is now president of Greece’s largest and most iconic sailing club, the Nautical Club of Greece. As a civil engineer involved in construction, he soon switched professionally to shipping. He has a talent for technical matters and is a practical engineer himself. I remember his first ship, the Polaa 10,000-ton cargo ship, where he once dove into the water off the coast of West Africa to solve a propeller problem himself. That ship, with its many technical and other challenges, was George’s practical thesis on commercial shipping.

Martinos continued with an illuminating portrait of his friend: “Although from a wealthy family, George learned the business of shipping the hard way, not the easy way. Maybe that’s why it’s said that the woman who causes you the most trouble, in his case the sea, is the one you love the most. His greatest loves are his wife Alexandra, his daughters and his grandchildren.

They are his top priority,” Martinos noted, listing Prokopiou’s achievements: “For George, shipping is a passion, not just a profession. He is a pioneer and visionary and owner of the second largest Greek fleet of LNG ships. He owns the world’s first icebreaking LNG ship, which crossed the Northern Sea Route and delivered cargoes via the Arctic passage. Two of its gas carriers are chartered to the German government and today contribute to German energy security.”