DIMAND advances SOFTEX redevelopment in Athens

The Environmental Impact Assessment (EIA), which has been placed under public consultation until 30 November 2026, concerns the development of a business complex with a total gross floor area of 39,102 sq m on a 49.3-acre site. The property occupies Building Block 35 within the Municipality of Athens, between Iera Odos, Agiou Polykarpou, Chartonergaton Street and the planned extension of Profiti Daniil Street.

The project envisages the preservation and reconstruction of three existing industrial buildings, the construction of three new office buildings, two multi-storey parking facilities and extensive landscaped green spaces.

The development is designed to accommodate approximately 2,775 employees, reflecting the scale of the planned concentration of business activities in an area that continues to be characterised by former industrial facilities.

DEDDIE to Acquire Two New Buildings and Former SOFTEX Facilities

A key milestone for the investment was the agreement signed on 30 July 2026 between IQ Athens, a wholly owned subsidiary of DIMAND, and DEDDIE.

The agreement provides for the sale of the largest part of the development for €134.7 million, with the consideration payable in instalments and delivery of the facilities scheduled for 2028.

The property to be handed over to DEDDIE will have a total area of 37,530 sq m across four buildings—two newly constructed and two existing—which will operate as complementary facilities.

The site will also include a five-storey parking building, with a total of 443 parking spaces, 24 of which will be reserved for service vehicles. According to the EIA, the facilities within this first ownership section are expected to accommodate approximately 1,725 employees.

Plans for the Remaining Part of the Complex

The remaining SOFTEX section, covering an area of 16,959 sq m, will include the reconstruction of the existing Building 3 (K3) and the construction of a new four-storey office building, designated B3.

According to the environmental study, Building K3 will have a total gross floor area of 5,541 sq m following the planned additions and interventions. In addition to office space, it will accommodate an exhibition area and a multipurpose hall.

The new B3 building will comprise four floors, with a total gross floor area of 8,013 sq m. The combined gross floor area of the second property section will reach 13,554 sq m, while 393 parking spaces are planned across underground, outdoor and multi-storey facilities.

According to information available, part of this section is also subject to a leasing agreement involving other companies, including Avis.

Three Industrial Buildings to Be Given New Uses

Buildings K1, K2 and K3, constructed between 1971 and 1973, will undergo extensive structural reinforcement, restoration and conversion works.

According to the EIA, the facilities have sustained damage from the earthquakes of 1981, 1999 and 2019, as well as fires in 1994 and 2015.

The reconstruction programme includes strengthening the structural framework, adapting the interior spaces to the requirements of modern offices and installing new electromechanical systems.

A building permit for the structural reinforcement works was issued in November 2023 and revised in May 2026. The design also provides for the preservation and presentation of archaeological remains discovered on the site. Some will remain visible through specially designed viewing areas, while others will be protected through reburial, in accordance with the relevant approvals issued by the Ministry of Culture.

15,443 sq m of Green Space and 4,806 sq m of Solar Panels

The redevelopment includes a total landscaped and planted area of 15,443 sq m, equivalent to 31.3% of the site.

A total of 247 trees will be planted across the grounds, alongside pedestrian routes and outdoor spaces connecting the existing industrial buildings with the new facilities.

The energy strategy includes photovoltaic systems covering a total area of 4,805.61 sq m, heat pumps, enhanced thermal insulation and centralised building management systems. The project aims to achieve LEED Gold environmental certification.

The EIA also assesses the potential effects of the construction and operation of the complex on traffic, noise levels, air pollution and the area’s existing infrastructure.

The construction period for the overall redevelopment is estimated at 30 months. This estimate does not constitute a binding delivery schedule for all buildings.