ATHENS, July 30 (Reuters) - Greece's Alpha Bank ACBr.AT will look for a strategic partner to set up a joint venture in the Greek real estate market, it said on Friday.
The partner will acquire a controlling stake in Alpha's listed real estate unit Alpha Astika Akinita, while Alpha Bank will retain a minority stake in the joint venture, it said.
Alpha Bank aims to make Alpha Astika Akinita a multi-asset real estate investment platform, with the company's real estate servicing unit expected to be consolidated under Alpha Bank's fully owned subsidiary Alpha Real Estate Management and Investments.
Alpha said it expects the process to be launched in September and the selection of the partner to take place by the end of the year.
The plan is subject to prevailing market conditions and the macroeconomic environment outside Greece, the bank added.
(Reporting by Angeliki Koutantou; Editing by Toby Chopra)
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