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New Dimand investment in the office real estate market

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New Dimand investment in the office real estate market

According to the information, Dimand Real continues to use the last remaining fillet on the axis of Kifisia Street, in particular around the intersection of Attika Street (“Dahtilidi”), which is the most popular place for business offices. Estate in collaboration with GEK TERNA and the Athens Medical Group.

In particular, sources in the market report that according to the scheme under consideration, an agreement was allegedly reached on the development of a land plot located directly in front of the hospital complex of the Medical Center in Marousi. This is an area that belongs to the Hellenic Technical Chamber (TEE) and is currently used as an open parking lot. It is located right at the crossroads of Attica Street and is suitable for the construction of high quality office buildings with bioclimatic characteristics.

According to the information, it is planned to build an office complex with an area of ​​12,000 sq.m. at the site. The total investment is expected to be between 30 and 35 million euros. Dimand leads the respective consortium with a controlling stake. This is another office project in the Amarusi area in the last two years. However, this particular one is one of the most important, as it concerns one of the most popular viewing platforms located at the intersection of L. Kifisias Street with the Attica road, as well as the suburban railway.

Another important project in the same area, but opposite this point and just below (but also near the intersection of Attica Street) is currently launching Prodea Investments. About a year ago, the listed AEEAP purchased the property, which previously housed the premises of the Church of Jehovah’s Witnesses. The facility will be demolished as the construction of a complex of two office buildings with a total area of ​​more than 17,000 sq.m is progressing in its place. Together with the purchase price of the property, the total investment is expected to exceed 35 million euros.

​​Accordingly, a little lower, also on Kifisia Avenue, at the height of Paradisos Amarousiou, Dimand Real Estate is currently constructing a new office building that will house PriceWaterHouseCoopers (PwC). Specifically, an 11-acre piece of land that was formerly owned by the António family (house builders) and which was purchased by a listed company about a year ago is being used. In this facility, an investment of 50-55 million euros has been realized for the construction of 11,000 sq.m. offices (total 22,500 sq.m., including basements), through a complex of twin buildings with a total area of ​​5,500 sq.m. every. PwC will lease the building for a period of 10 years with the right to renew for another 10 years at a price of 26 EUR/sq.m. The facility is expected to be completed in early 2024, with Dimand planning to sell it.

Author: Nikos Rusanoglu

Source: Kathimerini

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