25.06.2024

Piraeus and Dimand announced today, at a joint press conference, the conclusion of a strategic partnership for the development of urban spaces in Athens and the regions.

This cooperation initially involves the implementation of four real estate development projects, incorporating green features, innovative technologies and sustainability principles.

This marks a new era in the field of real estate utilization and management in our country, as it is expected to introduce innovative solutions in urban development and enhance economic progress.

Specifically, the four projects concern:

  1. Housing the central administrative units of Piraeus in a property on Korai 4 Street, which will be renovated under Dimand’s supervision according to the latest building standards. The total area reaches 15,000 sq.m., of which over 9,000 sq.m. will be allocated for the Bank’s office installation. Additionally, 3,000 sq.m. will be allocated to retail and catering businesses in the “Korai” arcade, creating a new hub of commercial and entertainment activity in the center of Athens. The plan includes highlighting the preserved ASTY cinema and the historical memory site of the Kommandatur from the 1941-44 period. Piraeus will entrust Dimand with the redevelopment of this property based on agreed special specifications, including LEED Gold sustainable building certification.
  2. The redevelopment of the FIX industrial complex in Thessaloniki. The utilization of this iconic property will significantly contribute to the development and upgrade of the wider area and reflects Piraeus’ goal to contribute to Thessaloniki’s economic growth. Piraeus and Dimand have reached an initial agreement for the provision of a bond loan amounting to 100 million euros for this project.
  3. The development of a 100-acre seaside area adjacent to the port of Lavrio. Dimand has reached an initial agreement with the managing company Strix Holdings II L.P., which controls Euroterra S.A., the owner of the property. The purpose of the agreement is to design and implement a large-scale investment aiming at restoring the area and developing urban infrastructure and building facilities, which will include residential, hotel units, catering businesses, and recreational areas. This investment will be carried out with the support of Piraeus Group and aims to redefine Lavrio as an attractive tourist destination, in combination with the revitalization of the main port and the utilization of the marina. The designed public spaces are expected to improve the quality of life for both residents and visitors, adhering to all relevant environmental standards.
  4. The acquisition by Dimand of a majority stake in the special purpose companies LYKOURGOS MAE and IANOS MAE, which own the property of the former Lampropoulos on Stadiou and Aiolou Streets, aiming at highlighting and more effectively utilizing it, thus contributing to the regeneration of the historic center of Athens. Piraeus, as Dimand’s strategic partner, will retain a minority stake in the two companies