An investment of 43.5 million euros will be the development of perhaps the last empty plot located on the axis of L. Kifisias, at the height of Amarousi. This is an area that belongs to TEE (Technical Chamber of Greece), right in front of the Medical Center and which for years was used exclusively as a parking lot. It seems that the conditions are now ripe for the construction of a “green” office building, with an area of 12,000 m2, with the related works estimated to start soon, as there is already a contractor for the project. It’s about her TERNAthe construction “arm” of the GEK TERNA group, which is also an investor in this development.
In particular, based on relevant information, the implementing body of the project is a special purpose company, in which GEK TERNA, Dimand Real Estate and the Medical Center group participate. At the same time, within the framework of the agreement with TEE, the plot will be given as consideration, in exchange for the commitment of offices, with an area of 3,500 m2, which will belong to TEE. The goal is for these spaces to be the new “headquarters” of TEE, as they will host the relevant services.
The plot will be given as consideration and the TEE will receive office space of 3,500 sq.m. which will house his services.
For the remaining 8,500 sq.m. there is already an agreement for their lease, as the property is located in an extremely privileged spot, next to the “ring” of Attica Odos and the relevant suburban railway station, opposite the “Megaro” of OTE. The immediate finding of a tenant is also a clear example of the demand that exists in the market for modern office spaces with high energy efficiency. The lack of investment during the years of the economic crisis has resulted in the creation of a particularly “aged” stock of buildings, which does not meet the modern needs of businesses, neither from an environmental point of view, nor from a cost and specification point of view. As real estate market executives note, even the offices built in the early 2000s have begun to significantly fall short of modern requirements and require upgrading projects, so as not to become obsolete.
In this context, real estate investment companies and real estate groups are trying to meet this demand, intensifying their investment program. In the wider area of Amarousi alone, investments exceeding 200 million euros are currently “flowing” and concern both new office development projects and reconstructions and upgrades of existing buildings.
