Piraeus Tower in a impressive inauguration ceremony
Piraeus Tower in a impressive inauguration ceremony
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Piraeus Tower in a impressive inauguration ceremony

An impressive celebration ceremony held for the inaugurarion of Piraeus Tower
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RE+D magazine
05.06.2024

Inauguration of the refurbished Piraeus tower was held in the presence of the majority of Greek real estate industry executives and marked a new era for the ambience of the country's largest port.

Before the celebrations of Olympiakos winning the European trophy had even stopped, Dimitris Andriopoulos' Dimand brought the issue of reuse and urban regeneration to the fore, stating that investors and financial institutions are now focusing on viable and sustainable buildings, with the... business as usual to have changed radically.

At the same time, yesterday's fiesta raised thw developments standards even higher. The most expensive events organization company, with a pan-European presence, filled the port with drones that in different formations visualized the sounds of the string and wind orchestra with themes arranged songs by famous Greek and foreign composers with reference to the water element.

The history of the skeleton that haunted the country's gate for more than five decades is vividly described in the conversation between Dimitris Andriopoulos and the architect Yiannis Vikelas who designed the original form of the building.

Dimitris Andriopoulos:  How do you find the tower Mr. Vikelas?

Yiannis Vikelas:  Completed…

The Tower of Piraeus, the second highest building in Greece, after the Tower of Athens with a height of 84 meters and 22 floors, was started to be built in 1972 during the mayorship of A. Skylitsis and bears the signature of the architects I. Vikelas, G. Molfesi and A. Loizou and completed in 1975.

In 1983, during the mayorship of Yannis Papaspyrou, it took its external form. For many years it remained a "carcass" that never functioned, except for the ground floor and the first two floors which occasionally housed a school, a superstore, the offices of the National and various public and municipal services.

The fate of the emblematic landmark was changed by the decision of the current mayor of Piraeus, Yiannis Moralis, to proceed with the exploitation of its asset.

The project was undertaken by the joint venture Piraeus Tower SA. who bid in the relevant tender in which Prodea Investments, together with Dimand and the EBRD participate

The contract has a duration of 99 years, while the municipality will put 1,010,000 euros into its coffers every year with the possibility of adjusting the rent by 2% per year.

The total surface area of ​​29,000 m2 skyscraper with 3,500 underground spaces includes 19,000 m2 office spaces, 7,000 m2 shops, 700 m2 dining areas, and is fully leased with rents that reached €30/m2/month. Among the first tenants of the offices in Pyrgos were the company Dialectica, which occupies the 6 floors (from the 9th to the 14th), with a total gross area of ​​approximately 6,210 sq.m., and the V Group of Byron Vassiliadis (22nd floor) , while lease contracts have recently been signed with 4 more companies, including the insurance company North Standard.

In the stores, Zara and Zara Home were recently launched, occupying spaces from the ground floor to the 2nd floor with a total area of ​​5,850 sq.m., and are the second largest store of the brand internationally. It was preceded by the opening of the store on the ground floor and part of the first floor, with a total area of ​​1,200 sq.m. of sportswear chain JD Sports, and gym chain Athlesis.

Nice n' Easy cafe and restaurant will operate in the dining areas of the 3rd floor.