Dimand Real Estate is preparing two major investments in the renovation of former industrial sites over the next few weeks. The first and more immediate in time concerns the reconstruction of the former property of the Athenian paper mill in Botanikos, and the second concerns the use of the territory of the former Balkans in Thessaloniki. The process of issuing appropriate building permits is ongoing for both projects, with a total investment estimated at 280 million euros.

On the 50-acre Botanikos site, it is planned to create state-of-the-art office space with a total superstructure area of ​​approximately 50,000 sq.m. In fact, according to the proposed project, some of the existing buildings are supposed to be preserved and reconstructed, while, of course, all the buildings that will be created will follow the principles of bioclimatic design and provide a high level of energy efficiency. The total amount of these investments is expected to reach approximately 120 million euros, with projected completion in the first months of 2025. Accordingly, on the 355.6 acre area of ​​Balkan Export, located on the 15th kilometer of the Thessaloniki-Edessa motorway, Dimand plans to develop in two separate phases a commercial center with logistics infrastructure and possibly assembly / processing of products. A total of 120,000 m2 will be built and the total investment is estimated at 160 million euros. It is assumed that at the first stage of the development of the facility, 55,000 sq. m, while Dimand management plans to start the project in the first quarter of 2023.

The reconstruction of the former property of the Athenian paper mill continues – the use of the territory of the former Balkan in Thessaloniki is at the final stage.

Recall that at the end of nine months of this year, the listed company has achieved a 66% increase in the value of real estate, which she put into operation. To date, the investment portfolio includes a total of 19 projects worth 826.2 million euros, out of 15 projects worth 497.6 million euros that he had at the end of 2021. Dimand’s investments are expected to include two projects in the wider area of ​​Attica, mainly to build logistical and related infrastructure. The first one is located in the Megara area, on a plot of about 70 acres, and the second one in Paian, in collaboration with Premia Properties AEEAP. There, on an area of ​​23 acres (with an existing building of 4200 sq.m.), the prospect of use in the direction of use, for example, eg. logistics or data center.

At the same time, Dimand Real Estate is currently planning the construction of modern office buildings with a total area of ​​245,000 sqm, mainly in Athens and secondarily in Thessaloniki. In fact, 150,000 sq.m. The property in question has already found tenants, which significantly limits its investment risk. The property will then be sold to interested investors such as real estate investment firms (REITs) and real estate investment trusts.