The redevelopment of another old, empty, former industrial building into a green office building by Hellenic Properties, marks the first investment in collaboration with Sirec Energy through EuSIF, the first Greek ESG-focused fund.

This is a former industrial building in Tavros, very close to the metro line 1 station in Kallithea, with a total area of 5,200 sqm, which will be upgraded to a green office building, in an investment of €15 million. The project is expected to be delivered at the end of 2026 and aims to achieve LEED certification. T he building under development spans 1,400 sqm per floor. It can be leased either as a whole or in parts and is offered for the proposed use.

"STRATEGY TO DEMOCRATIZE GREEN BUILDINGS"
"We are particularly pleased to partner with Sirec Energy, a pioneer in the green investment industry. The partnership is part of our overall strategy to democratize green buildings in Greece, namely to bring to the market green office buildings affordable to 90% of Greek businesses, with average rents 25% lower than the highest green building rents in Athens today," stresses Henry Arones, CEO of Hellenic Properties, adding that this first new project is one of at least three investments to be made jointly with Sirec Energy in the next 18 months.

Dionysis Alyssandratos, managing director of Sirec Energy, said: "We are extremely pleased to be undertaking yet another building energy upgrade, this time in partnership with Hellenic Properties, a dynamic up-and-comer in the property development sector. Energy upgrading of existing buildings is very important in order to achieve the climate targets set by the country. Such buildings, neglected for years, require significant funds for their upgrading and Sirec Energy aims to actively invest in the brown to green buildings sector."