THE: Piraeus and a property development company demand, announced today at a joint press conference the conclusion of a strategic partnership for the development of urban areas in Athens and the region. This partnership initially concerns the implementation of four real estate development projects incorporating green features, applying innovative technologies and sustainability principles.
Thus, it marks a new era in real estate development and management in our country as it is expected to introduce innovative solutions in the field of urban planning and promote economic progress.
Mr. Christ MegaloThe 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 meeting values and values. our long-term strategy. Through this partnership, Piraeus Group, using Dimand’s strong experience, strengthens its real estate management in the light of real estate exploitation and the strengthening of social cohesion.”
Mr. Dimitris Andriopoulos Dimand’s executive director noted: “We are particularly excited about our new strategic partnership with Piraeus, with whom we look forward to building economic goodwill with positive environmental and social footprints. The impact of the projects on the urban regeneration of individual areas is particularly important, as both in the historic center of Athens, as well as in the western entrance of Thessaloniki and Lavrio, urban transformation is already taking shape and will continue. along with other developments and activities.
In particular, the four projects refer to:
1 hour Piraeus central administrative units accommodation in a property located at 4 Korai Street, which will be renovated under Dimand’s supervision, based on the most up-to-date building specifications. Its total area reaches 15,000 square meters, of which more than 9,000 square meters. will be allocated for setting up the Bank’s offices. In addition, 3000 sq. will be accessible to retail and food outlets at the Korai Arcade, creating a new commercial and entertainment hub in downtown Athens. The project includes the highlighting of the 1941-44 period ASTY cinema and the historical memory area of the Commandery.
2. In Reconstruction of FIX industrial complex in Thessaloniki. The use of this iconic property will significantly contribute to the development and modernization of the wider area and reflects Piraeus’ ambition to contribute to the development of Thessaloniki’s economy. Piraeus and Dimand reached an agreement in principle on providing a 100 million euro bond loan for a specific project.
3. In Development of 100 acres of waterfront adjacent to Lavrio Harbor. Dimand has reached an agreement in principle with the management company Strix Holdings II LP, which controls property owner Euroterra AE. The purpose of the agreement is the planning and implementation of large-scale investments aimed at the regeneration of the area and the development of urban infrastructure and buildings, which will house, among other things, residences, hotel units, catering establishments and recreational areas. This investment will be carried out 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 use of the sea port. The planned common areas are expected to improve the quality of life of both residents and visitors while meeting all environmental requirements.
4. Dimand’s acquisition of a majority stake in special purpose vehicles LYKOURGOS MAE and IANOS MAE, which owns the former Lambropoulos property on Stadio and Aiolos streets, with the aim of promoting and making more efficient use of it, thus contributing to the restoration of the historic center of Athens. Piraeus as Dimand’s strategic partner will retain a minority stake in both companies.