According to Dimitris Andriopoulos CEO of Dimand, the candidates are two large foreign investors and three family offices.
The listed REIC is going to sell the Tower of Piraeus, the Minion as well as the EDEE building. "Until 2026, we intend to gradually add new low-risk developments in our portfolio, as we work methodically, securing their lease and sale earlier," Mr. Andriopoulos underlined.
It is recalled that the company has already agreed the sale for two of its projects, namely the new office building with PwC as tenant in Maroussi and Eurobank as buyer, as well as the office complex "Hub 26", the first sustainable business park in Thessaloniki, with 25,000 sq.m. offices and the buyer is Prodea Investments REIC.
The three properties
The flagship project, Piraeus Tower, recently inaugurated and implemented by Piraeus Tower (a Joint Venture of Dimand and the EBRD and Prodea) has attracted the interest of a total of three investors. According to the company, the tower is fully leased, with rents that are much lower than those of the market, which is an ideal investment opportunity for interested buyers.
According to Mr. Andriopoulos, two investors are claiming Minion, which is opening in December. The company has signed a contract with PPC and is gradually handing over the building's total of four office spaces. At the same time, the clothing and underwear chain ZARA will have a retail presence in the property on -1 and the ground floor, while two additional floors have also been leased by Inditex, to house its headquarters. The second phase of the construction of the project, which includes the reconstruction of an eight-story building of 4,500 sq.m. which will consist of residences and will start in early 2025. A total of 30 apartments and 5 maisonettes from 70 to 125 square meters will be created, for the purchase of which there are already 120 interested parties.
Finally, according to the management of the listed company, development is underway in the former EEDE building in Patisia, which is being converted into a modern bioclimatic office building with ELTA as a tenant. And for this property there are two potential buyers.
The project Skyline
Regarding the Skyline project, worth €437 million, Mr. Andriopoulos estimated that by the end of September, 50% of the properties out of the total of 600 will have been transferred. To a question about the delay observed in the whole process, he said that it is due to the bureaucratic procedures that are necessary for the transfer of real estate (see electronic identity etc.).
