The number and area of them doubled in just 12 months green buildings. According to relevant research by DCarbon company, which specializes in the provision of sustainability consulting services, this year the number of green buildings has increased to over 200, with a total area approaching 3 million square meters, while 12 months ago the buildings in question numbered 112 and were 1, 5 million sq.m. These figures concern the entire stock, i.e. both the buildings that are already in operation and those that are under construction or under planning.
“During the last year we have seen a jump in buildings with bioclimatic features, almost doubling,” says Charalambos Giannikopoulos, general manager of DCarbon. According to him, this development is due to a number of reasons. “First of all, these buildings are in demand by users, which means that they immediately secure tenants and at higher prices than a conventional building. At the same time, their construction can be co-financed by funds from the Recovery Fund, which have very favorable lending conditions”, he states.
Therefore, new investments for the development of such buildings have recently multiplied, with an emphasis on the office sector. In addition, a significant amount of projects also concern energy upgrades of existing buildings, so that they can be modernized and able to extend their lifespan. “We see that there is great interest from investors in upgrading existing buildings, especially in the center of Athens, as we see e.g. with Mignon and earlier with the Moxy hotel in Omonia square”, notes Mr. Giannikopoulos.
In a recent analysis of the performance of the office market during the third quarter of this year, CW Proprius, a real estate services company, reports that the stock of new office buildings under development is now approaching 400,000 sq m. Specifically, 204,232 sq.m. of new buildings are already under construction and are to be delivered gradually over the next two years. At the same time, an additional 187,678 sq.m. are in the planning and licensing maturation stage. One of the new office buildings that will be put into operation in the first quarter of 2024 is the Piraeus Tower, an investment of more than 40 million euros by Dimand-EBRD and Prodea Investments. At the same time, an office complex on the former Kodak property in Maroussi is also under construction, an investment of more than 50 million euros, promoted by the Noval consortium of the Biohalco group and the investment company Brook Lane Capital. In the summer of 2024, the new green office building of AADE, which is being created in the former Athens Heart shopping center of Premia Properties AEEAP, will be delivered for use, as well as the new “headquarters” of PriceWaterHouseCoopers, on Kifisias Street. It is an office complex developed by Dimand and agreed to be purchased by the Eurobank group.
Prodea Investments is launching a new office complex on Kifisias Street (almost at the intersection of Attica Street), having acquired a series of neighboring plots, which will be consolidated for this purpose. According to Ari Karytinosmanaging director of Prodea, “certified buildings attract highly reliable tenants (especially for multinational companies, certification is a prerequisite for choosing a tenant), achieve higher rents (according to international studies, rents can be 15% higher- 30%) and consequently value, as well as reduced periods of unhired period”.
