The real estate development company Blend Development has signed an agreement with Bob W, a hospitality accommodation operator with a strong technological foundation, for the conversion of a building, as detailed in a related announcement.
The building’s location in the heart of Athens provides easy access to major tourist attractions and the city's most commercial areas, as well as a variety of dining options. Just a short distance away is Ermou Street, the busiest shopping street in Athens, lined with numerous retail outlets.
The property was acquired in 2022 and is currently undergoing a complete renovation, including extensive structural reinforcements, to transform it into a modern building featuring serviced apartments with a strong technological footprint. The project incorporates innovative construction solutions and has received approval and funding from the Greece 2.0 Recovery and Resilience Fund.
Blend Development is also working on two additional hotel projects. The first is located on Piraeus Street, near Omonia Square, and will feature 32 serviced apartments. The second is situated on Syngrou Avenue, next to the FIX Metro station, and will be a 4-star, 50-room hotel.
The renovation of the property is scheduled to be completed by 2025, with plans to update the building’s façade while preserving its historical significance and integrating harmoniously with the surrounding area in downtown Athens.
The building is set to achieve green certification under LEED standards, enhancing its energy performance and significantly reducing its carbon footprint during operation, in line with the principles and mission of Sirec Energy, one of the project’s main investors.
Mr. Paris Kalitsantsis, CEO of Blend Development, stated:
“We are excited to continue and deepen our collaboration with Bob W through our second agreement, which plays a significant role in the revitalization of Stadiou Street and the broader Athens city center. As the demand for modern serviced apartments continues to grow, we see this partnership as a crucial step in offering innovative hospitality solutions that meet the evolving needs of today’s traveler. With Bob W’s expertise and our collaboration with Primetown, we are confident that this project will set new standards for the serviced apartment market in Athens.”
Mr. Niko Karstikko, co-founder and CEO of Bob W, added:
“Securing a prime location on Stadiou Street marks the latest milestone in our ambitious expansion plans across Europe. At the heart of this effort is our commitment to reimagining urban properties into high-quality, well-designed accommodations that authentically reflect the character of their neighborhood, while setting new standards for modern hospitality. By repurposing existing buildings instead of constructing new ones, we can reduce carbon emissions by 50%-75%. We believe strongly in Athens and Greece as a sustainable market, and it is at the core of our Mediterranean strategy. We’re excited to announce our third property in Athens, with many more to follow in the country in the coming years.
