The big comeback of private construction and the role of small and large real estate investments in Greece were at the heart of the discussion at the 8th Infrastructure and Transport Conference – ITC 2025, which takes place today 23 and tomorrow September 24 at the Athens Conference Conference Hall – International Conference Center.

Nikolaos Ioannis Dimtsas, Deputy Managing Director Dimand: It is important to influence the neighborhood

“The important thing is to influence the neighborhood and create a positive micro -economy and development on local communities,” said Nikolaos Ioannis Dimtsas, Deputy Chief Executive Officer of Dimand, describing the flagship works of the company both in Thessaloniki (FIX) and Heraklion and Heraklion.

“Our philosophy is to develop a neighborhood, moving on to urban renovations,” he said, talking about the Megalo redevelopment project at the former FIX plant, at the west entrance of Thessaloniki. As he said, the launch permits are expected to be granted within 2025 and the timetable provides for completion of the project at the end of 2027 (early 2028). “When the project is completed and the Holocaust Museum will see the change,” he said.

A year later (late 2028- early 2029) the projects in the Gournes area of ​​Hersonissos Municipality in Heraklion, Crete, as well as the Cambas Project in Pallini, Attica, are expected to be completed.

“We are always looking at the infrastructure before we decide any new investment,” Mr. Dimtsas stressed, saying that both projects will have easy access to transport networks.

Concerning real estate prices, Mr Dimtsas noted that prices in Thessaloniki remain lower than Attica, as in a newly built building the costs are at 18 euros/sqm in Thessaloniki, for 30 euros/sqm in Athens.

George General, Executive Director Hard Rock Athens IRC: At 1.8 billion euros the amount of investment for the Integrated Resort Casino has risen in EURO

In the amount of 1.8 billion the amount of investment – a milestone of the joint venture has risen Hard Rock International and Gek Terna For the Integrated Resort Casino in Elliniko, as known by George General, Executive Director of Hard Rock Athens IRC SA, speaking at the 8th Infrastructure and Transport Conference – ITC 2025.

“The IRC will be the first of its kind in Europe and will change the country’s tourist map,” the General stressed, recalling that the complex will provide a holistic entertainment experience, with 1,100 hotel keys – 200 suites and 900 rooms – 14 different catering destinations, In Europe – and of course, toys, one of the largest in Europe.

Asked about traffic, Mr General estimated that he would reach 10,000 to 15,000 people a day in the event of conferences and other events.

“The band will upgrade the profile of Athens, as it will attract different types of audiences, such as higher income people,” added Hard Rock Athens IRC executives and concluded that the project would be completed in a timely manner and welcoming first visitors to 2028, thanks to its Hard Rock International experience.

Concerning the challenges facing the Hard Rock Athens IRC SA, it is related to the complexity of the project itself, as it is one of the most demanding currently implemented in Greece, according to Mr General.

As he said, the coordination required between investors and the competent authorities is also critical to complete the ongoing licensing, as regulatory issues are still pending. “One of the most important challenges for the area where the IRC is implemented is the balance between development and the environmental footprint of the project. For our part, we have committed the commitment to ensure viability during the construction and operation of the IRC, with respect to the environment and society, “he concluded.

Fotis Yoftsios, Managing Director & Vice President, Ten Brinke Hellas: Turn to Reconstruction and not just renovation of real estate

CEO Fotis Yoftsios spoke about the shift of the buying public to the rebuilt real estate and market trends.

Referring to real estate prices and the purchasing capacity of the Greeks, he stressed that the southern suburbs have developed their own orbit, adding that there is a differentiation in Attica, as the buying public develops different criteria.

He pointed out that due to the sharp rise in prices in construction materials, there are less and less people who seek to buy newly built and are increasingly turning to remodeled older real estate.

For the criteria of prospective buyers, he commented that they share 40% respectively between energy efficiency and the availability of outdoor real estate spaces, while the remaining 20% ​​wants his home to be close to his place of work.

Ten Brinke, observing this shift, has set up a new company for a year, which has acquired and rebuilding – not just renovating – old apartments and building complexes giving new aesthetics to make the buyer feel that he is in something new with prices being much lower than new ones.

For the company he stressed that by the end of the year he will deliver 10 commercial real estate of various categories and 12 residential, and also enters a new industry that is data centers. He added that the first Data Center in Attica is already being built by the Tentec subsidiary, while the search for new venues does not stop with studies for a second data center already started.

Regarding market trends he pointed out that it is moving upward, but one has to consider which categories will prevail in the near future. Ten Brinke believes that these are the residential and professional by investing 250 million Euro in the next three years for 40 projects, which will be divided by 50% in these categories.

Costanzo Graffi, Europe Contractors Partnerships Lead, Aecom: Transparency in the implementation of Real Estate projects

Costanzo Graffi, Europe Contractors Partnerships Lead, AECOM, referred to the transparency that must be existed in the projects that are being carried out, but also to the conditions that are necessary to be complied with in order to complete an important project.

According to him, “investments have specific requirements. It is important for a project to meet all those conditions that make it worthy of funding and of course ensuring transparency in it, “he said.

Costanzo Graffi highlighted the two main goals of implementation of significant and beneficial projects for the whole project society. “The goals are always two. Timely delivery and budget. “When the contractor’s offer gives a 30% discount but the project is delayed 10 years, you realize that in this case, the cost is high. That is why I emphasize that it is necessary to meet the conditions and to have transparency so that the work is beneficial to society. “

Concerning AECOM’s actions, Costanzo Graffi stressed that the company is able to carry out projects viable. “Our company manages, invests and is well aware of the real estate market. We are based on social and environmental impact while at the same time trying to satisfy all those involved in the projects. We always promote strategies that give value to the project itself. This avoids mistakes and make sure the work is sustainable and beneficial, “he concluded.

Vasiliki Kazazi, Managing Director, TÜV NORD Greece: Real Estate is not only square, it is our cities, our daily lives

Vassiliki Kazazi, Managing Director of TÜV Nord Greece, emphasized that we are in a period of great opportunities and challenges in the construction industry, such as the very high cost of raw materials, lack of specialized staff and geopolitical developments.

He noted that the control body has a substantial part of a partner, is the communication bridge and the guarantor of a project.

According to Ms. Kazazis, the conversion of a project into an investment asset is judged by sustainability, durability, technology and innovation.

“Real estate is not just square. It is our cities, our daily lives and can have a social impact. To create an affordable home and jobs, ”said TÜV Nord’s chief executive.

He pointed out that the control body acts as a system of early warning to all parties involved, adding that at the beginning of a project the body brings transparency, during execution reduces the risk, and when completed it guarantees the reliability of the result.