Dimand and PPC collaborate on €176M bioclimatic office complex

Specifically, the two parties have established Powerhub Properties, a joint venture in which each holds a 50% stake. The company has assumed PPC’s long-term lease of the site and will serve as the development and operating vehicle for the project.

Construction has already commenced on a state-of-the-art bioclimatic office campus at 211 Mesogeion Avenue, Athens, with a total investment budget of approximately €176 million.

According to PPC, the new complex has been designed with full respect for the scale of the surrounding neighbourhood, with its height strictly limited to 19.5 metres, ensuring its harmonious integration into the urban fabric.

The development will comprise approximately 29,900 square metres of above-ground office space, complemented by around 29,000 square metres of underground facilities. The three basement levels will accommodate more than 600 parking spaces, with electric vehicle charging infrastructure provided for 50% of them. This design ensures that all vehicle circulation and parking demand will be accommodated entirely within the site, without placing additional pressure on surrounding streets.

Particular emphasis has been placed on environmental sustainability. Of the site’s total 18.8-hectare area, the majority will remain open space, while all existing mature trees from the former military camp will be preserved. The project also includes approximately 7,800 square metres of landscaped green areas featuring water elements, together with a 3,700-square-metre rooftop garden.

The complex will be equipped with geothermal heat pumps, 750 photovoltaic panels to meet part of its energy requirements, and underground rainwater harvesting tanks for autonomous irrigation. The development is targeting the highest international sustainability certifications, including LEED Platinum and WELL Platinum.

The project is currently at the foundation stage and is expected to be completed by mid-2028. It will also include a flagship PPC retail store, food and beverage facilities, an auditorium and wellness amenities.

Zorzeta Christodoulopoulou, PPC Group General Manager for Support Functions, said: “The new bioclimatic campus on Mesogeion Avenue is a benchmark sustainability project that integrates seamlessly into the surrounding urban environment while enhancing the local community. It will provide a model workplace built to the highest health and well-being standards, targeting WELL Platinum certification. Our partnership with Dimand, a leading company with proven expertise in sustainable real estate development, ensures the optimal deployment of our capital, minimizes construction risk and guarantees the timely and high-quality execution of the project.”

Nikos Dimtsas, Deputy Chief Executive Officer of Dimand, commented: “We are particularly pleased with this strategic expansion of our partnership with PPC for the delivery of this landmark development. The redevelopment of the former Plessa military camp is a complex and demanding project distinguished by its architectural quality and design excellence. I am confident it will become a benchmark for bioclimatic development and a new landmark for Athens. As a pioneer of sustainable real estate development in Greece, Dimand is contributing its full expertise to deliver a project that fully meets our investment criteria while creating significant added value for our shareholders, the building’s users and the local community.”