TOP Ships Announces Letter of Intent for Acquisition of Real Estate Assets in Dubai

ATHENS, Greece, Nov. 28, 2025 (GLOBE NEWSWIRE) -- TOP Ships Inc. (the “Company” or “TOP Ships”) (NYSE American:TOPS), an international owner and operator of modern, fuel-efficient “ECO” tanker vessels, announced today that it has entered into a letter of intent for the potential acquisition of certain residential real estate assets in Dubai from a company affiliated with Mr. Evangelos J. Pistiolis, the Company’s President and Chief Executive Officer. Under the letter of intent, TOP Ships has been granted an exclusive right and an option to acquire all or a portion of a portfolio of assets with an estimated aggregate market value in excess of $200 million. In the Company’s view, Dubai is one of the world’s most attractive real estate markets, supported by strong global investor confidence, transparent regulations, and a resilient, high-growth economy.

Read more at globenewswire.com