Piraeus Bank and real estate developer Dimand announced today at a joint press conference that they have entered into a strategic partnership for the development of urban spaces in Athens and the region. This cooperation initially involves the implementation of four real estate development projects, incorporating green features, innovative technologies, and sustainability principles.

According to the joint announcement, it thus marks a new era in the field of real estate development and management in our country, as it is expected to introduce innovative solutions in the field of urban development and enhance economic progress.

Christos Megalou, CEO of Piraeus, said, "The partnership with Dimand represents our shared vision of creating sustainable and innovative urban spaces that enhance quality of life and contribute to economic growth and value creation for local communities, while being in line with our values and long-term strategy. Through this partnership, Piraeus Bank Group, leveraging Dimand's strong expertise, enhances the management of its real estate assets in the light of real estate development and the strengthening of social cohesion."

Dimitris Andriopoulos, CEO of Dimand, noted: "We are particularly pleased about our new strategic partnership with Piraeus, through which we look forward to creating economic value with a positive environmental and social footprint. The impact of the projects on the urban regeneration of the individual areas is particularly significant, as both the historic centre of Athens, the western entrance to Thessaloniki, and Lavrio are already being transformed and will continue to be transformed in combination with other developments and actions."

In particular, the four projects concern:

• The housing of Piraeus' central administrative units is on a property at 4 Korai Street, which will be renovated with Dimand's diligence based on the most modern building specifications. The total area of the building is 15,000 sq m, of which more than 9,000 sq m will be allocated for the bank's offices. In addition, 3,000 sqm will be allocated to retail and catering outlets in the "Korai" arcade, creating a new hub of commercial and entertainment activity in the centre of Athens. The project includes the development of the preserved ASTY cinema and the Kommandatur historical memorial site of the 1941–44 period. Piraeus will commission Dimand to redevelop this property based on agreed-upon specifications, including LEED Gold sustainable building certification.
• The redevelopment of the FIX industrial complex in Thessaloniki. The development of this iconic property will contribute significantly to the development and upgrading of the wider area and reflect Piraeus' commitment to contribute to the development of Thessaloniki's economy. Piraeus and Dimand have reached an agreement in principle for a €100 million bond loan for this project.
• The development of a 100-acre waterfront site adjacent to the port of Lavrio. Dimand has reached an agreement in principle with the managing company of Strix Holdings II L.P., which also controls Euroterra S.A., the owner of the property. The purpose of the agreement is to design and implement a large-scale investment to rehabilitate the land and develop urban infrastructure and buildings, including residential, hotel, catering, and leisure facilities. This investment will be implemented with the support of the Piraeus Bank Group and aims to redefine Lavrion as an attractive tourist pole, in combination with the revitalization of the main port and the development of the marina. The planned public spaces are expected to improve the quality of life of both residents and visitors while respecting all relevant environmental standards.
• The acquisition by Dimand of a majority stake in the special purpose companies LYKOURGOS MAE and IANOS MAE, which own the property of the former Lambropoulos on Stadiou and Aeolou streets, with the aim of promoting and exploiting it more effectively, thus contributing to the regeneration of the historic centre of Athens,. Piraeus, as a strategic partner of Dimand, will retain a minority stake in the two companies.