Omonia square and the surrounding area are about to undergo a huge restoration project, in an attempt to regain its lost glory, leaving behind the image of degradation. A decisive role in the “facelift” of the wider area is played by the investments of millions in real estate that are made in this particular part of the capital.
One of the most emblematic investments is the reconstruction of the legendary “Minion” by the Dimand company, which will be completed in the spring of 2024 and is expected to give it a new lease of life.
Dimand’s design envisages its transformation into a mixed-use building (shops, offices and apartments) with LEED Gold certification. It is an investment of 55 million euros, including the cost of its acquisition, amounting to 26 million euros. The aim of the investment, according to the company, is to regenerate a landmark, which is deeply etched in the memory of the Athens citizens.
The property, with a total area of 18,500 sq.m., consists of buildings A (4,500 sq.m.) and BCDE (14,000 sq.m.)
Commercial shops with a total area of 6,100 sq.m. will be built from the -1st to the 2nd floor of the BCDE buildings while office spaces (with a total area of 7,700 sq.m.) will be created from the 3rd floor to the 7th floor.
It is noted that the BCDE buildings will be completed in about a year.
Development of Building A will begin in 2024 and is scheduled to be completed in two years. Dimand estimates that the total gross development value (GDV) of the project upon completion will be approximately 50 million euros.