Piraeus and the real estate development company Dimand entered into a strategic partnership for the development of urban spaces in Athens and the region, as announced on Tuesday in a joint press conference.

The cooperation in question concerns initially in the implementation of four real estate development projects, incorporating green features, applying innovative technologies and sustainability principles. It thus marks a new era in the field of real estate development and management in our country, as it is expected to introduce innovative solutions in the field of urban development and enhance economic progress.

Mr. Christos Megalou, CEO of Piraeus stated that “The partnership with Dimand represents our shared vision of creating sustainable and innovative urban spaces that enhance the quality of life and contribute to the economic development and value creation of local societies, while being consistent with the values ​​and our long-term strategy. Through this collaboration, the Piraeus Group, utilizing the strong expertise of Dimand, strengthens the management of its real estate in the light of the exploitation of real estate and the strengthening of social cohesion”.

Mr. Dimitris Andriopoulos CEO of Dimand noted: “We are particularly happy about our new strategic partnership with Piraeus, with which we look forward to creating economic goodwill with a positive environmental and social footprint. The effect of the projects on the urban regeneration of the individual areas is particularly important, as both in the historical center of Athens, as well as in the western entrance of Thessaloniki and Lavrio, the transformation of the cities is already taking shape and will continue in combination with other developments and actions. »

What are the 4 projects?

In particular, the four projects concern:

1. In housing the central administrative units of Piraeus in a property at 4 Korai Street, which will be renovated under the supervision of Dimand based on the most modern building specifications. Its total area reaches 15,000 sq.m., of which over 9,000 sq.m. will be allocated for the installation of Bank offices. In addition, 3,000 sq.m. will be made available to retail and catering shops in the “Korai” arcade, creating a new hub of commercial and entertainment activity in the center of Athens. The plan includes the highlighting of the listed ASTY cinema and the Kommandatur historical memory area of ​​the period 1941-44. Piraeus will entrust Dimand with the redevelopment of the property in question based on agreed special specifications that include LEED Gold sustainable building certification.

2. In the regeneration of the FIX industrial complex in Thessaloniki. The utilization of this emblematic property will significantly contribute to the development and upgrading of the wider area and reflects the pursuit of Piraeus to contribute to the development of the economy of Thessaloniki. Piraeus and Dimand have reached an agreement in principle for the granting of a bond loan of 100 million euros for the specific project.

3. In the development of a coastal area of ​​100 acres adjacent to the port of Lavrio. Dimand has reached an agreement in principle with the management company of Strix Holdings II LP, which controls Euroterra AE, the owner of the property. The purpose of the agreement is the planning and implementation of a broad investment aimed at the restoration of the area and the development of urban infrastructure and building facilities, which, among other things, will host residences, hotel units, catering businesses and recreational areas. This investment will be implemented with the support of the Piraeus Group and intends to redefine Lavrio as an attractive tourist hub, combined with the revitalization of the main port and the utilization of the marina. The planned common areas are expected to improve the quality of life of both residents and visitors, while complying with all relevant environmental specifications

4. In Dimand’s acquisition of a majority stake in the special purpose companies LYKOURGOS MAE and IANOS MAE, which own the property of the former Lambropoulos on Stadiou and Aiolou streets, with the aim of highlighting and more efficiently exploiting it, thereby contributing to regeneration of the historical center of Athens. Piraeus as Dimand’s strategic partner will retain a minority stake in the two companies.