The EBRD – Dimand – Prodea joint venture won the tender of the municipality of Piraeus and was proclaimed temporary contractor of the Piraeus Tower for 99 years.
Piraeus Tower, the largest asset of the municipality, has remained unused for more than 45 years. According to the announcement, the annual financial consideration is EUR 1,010,000 with an adjustment of 2% per annum.
The Tower will be utilized as follows: In the A and B underground floors there will be mechanical spaces and a parking lot. The ground floor, as well as the 1st and 2nd floors, will host the Piraeus Tourist Product Information and Promotion Organisation and retail stores. The 3rd floor will host the Multifunctional Cultural Center with a dining area. The 4th – 19th floors will be offices and there will be a restaurant on the 19th and 20th floor.
The investment budget amounts to € 41 million and the implementation timetable is 33 months for the radical renovation and landscaping of the interiors and immediate surroundings, upgraded facades, vertical zones for green lighting and a modern lighting system. In the coming period, there will be due diligence conducted by the investors and a review of the legality by the Court of Auditors.