Piraeus is a transportation and investment hub

By Eleni Botas

Piraeus, the largest port in the Mediterranean, is expected to be transformed into a transport and investment hub. The new infrastructure projects as well as investment projects that are in progress and are expected to be completed in the coming months, will drastically change the appearance of the city.

As the Minister of Infrastructure and Transport, Costas Karamanlis, pointed out a few days ago, in 2022, a solution will be given to the issue of the undergrounding of Line 1 (ISAP). A large project, which – as he pointed out – has been discussed since 2008, had been studied, but never became a reality.

“We will be ready in the next six to eight months, together with the Mayor, to update the study and say when the project will start, how much money it will cost, when it will be completed and how it will be financed,” said the Minister of Infrastructure and Transport. .

The expansion of Metro Line 3 “Agia Marina-Piraeus” is also progressing rapidly.

The construction works are at an advanced stage of construction and include a 7.6 km long tunnel and 6 new modern stations (Agia Varvara, Korydallos, Nikaia, Maniatika, Piraeus and the Municipal Theater).

Already last summer, the first 3 stations of Agia Varvara, Korydallos and Nikaia were handed over for use to the passenger public.

The entire Line 3 Expansion is expected to be commissioned in the summer of 2022.

One of the major projects in the wider area prepared by the Ministry of Infrastructure and Transport is the triple Skaramaga junction, which will ease traffic congestion on Schistou Avenue and Athens Avenue, while the upgrade of the Skaramagka level junction will improve National Road that suffers daily from thousands of vehicles.

This project, which started in 2000 and has not yet been completed, has a total budget of 55 million euros.

With the construction of the triple junction, there will be a new connection of the National Road with Schistou Avenue, the semi-open Regional Egaleo will be completed, which will connect Schistou Avenue with Attiki Odos, the opened tunnels “ghosts” will be completed and will operate. at the turn to Skaramagkas and finally a junction will be constructed that will directly connect the Skaramagkas Shipyards with Athens Avenue.΄

Finally, by the end of the year, it is estimated that the tender will be completed with the submission of financial bids for the large project of the submarine link Salamina Perama.

The budget of the contract amounts to 500 million euros, while the project is considered extremely important, because it will upgrade the wider area of ​​Perama, but also Salamina. In particular, it will contribute on the one hand to the decongestion to a large extent of Perama and on the other hand to the upgrade of Salamina, covering with speed and safety the thousands of daily movements to and from it.

Investments in Piraeus

Large investments have started and are already being implemented in Piraeus. In the spring of 2024 it is expected to operate as Hampton by Hilton Piraeus Mikrolimano, one of the traditional hotels of Piraeus, Mistral. This is a private investment of 5.5 million euros, which will contribute to the planning for the tourist development of Piraeus and the utilization of the cruise.

Also in full swing are the works of Piraeus Tower (Piraeus Tower), one of the largest real estate projects, which will be completed in 2023 in the port of Piraeus.

The project concerns the completion and operation of the Piraeus Merchant Maritime Center, also known as “Piraeus Tower”, in a municipal property of 3,842.32 square meters, with planned use of offices, shops, restaurants and underground parking, with a total area of ​​34, 23 The project consists of a building with two basements, ground floor, mezzanine and 23 floors above ground floor.The development will concern a bioclimatic office building which aims to receive certification of sustainable development under the Certification program Leadership in Energy and Environmental Design (LEED) in Gold level.

The proposed uses of the “Piraeus Tower” building will be distributed in shops, offices, restaurants, ancillary areas for electrical installations and an underground car park.

A new large real estate investment in the property abandoned for many years right next to the Karaiskaki stadium in Piraeus is in the works and concerns the creation of a complex of modern office buildings.

The investment will be implemented by the company 3V in which AVAX and DIMAND participate and its amount will reach 100 million euros.

The total area of ​​the plot reaches 18.7 acres and is an area – fillet, as it is adjacent to major roads (Kifissos Avenue and through it the National Roads to Thessaloniki and Patras) but also by public transport (metro and tram)

The aim of the investment is the creation of a complex of 4 buildings with modern offices, with bioclimatic characteristics, with a total area of ​​57,450 sq.m.

According to market experts, Piraeus still has investment opportunities with the cost per square meter not exceeding € 1,400 for independent functional buildings located just 50m from the port, while it has homes that need renovation at attractive prices.

“Piraeus is changing its image, acquiring a new air of investment interest that will focus initially on the city center and the perimeter of the port, initially aiming at abandoned independent buildings available at attractive prices. The fate of abandoned buildings within the zone will be of great interest. of the port “, they report characteristically.