This is how the Piraeus Tower will become – Its development begins

The Court of Auditors gave the “green light” to the Municipality of Piraeus to sign the contract with the contractor.

The Tower of Piraeus, the building – symbol of the city, will gain “life”, more than 45 years after its construction, as the Court of Auditors gave the “green light” to the Municipality of Piraeus to sign the contract with the contractor.

The required pre-contractual inspection has been completed, without any observations, and now the city is counting down to the start of work on the Tower, which will be radically renovated and converted into a modern building with offices and shops.

This is a very positive development, as another large investment, which exceeds 50 million euros, begins immediately in Piraeus, despite the difficult economic environment that has developed in the country due to the pandemic.

The tender for the development of the Piraeus Tower

The Tower of Piraeus is the largest asset of the Municipality of Piraeus, which had never been used since it was built.

The Municipality of Piraeus designed and proceeded with an international tender for its development, which provided for its concession for 99 years, its management and exploitation by investors.

The competition was successfully crowned and awarded to the Association of Companies “CANTE HOLDINGS LTD – PRONTEA ANONYMOUS COMPANY OF INVESTMENT IN REAL ESTATE”.

The annual financial consideration for the Municipality of Piraeus is 1,010,000 euros with an adjustment of 2% per year, which will be returned to the Piraeus society in daily projects, with the aim of improving the quality of life of Piraeus and upgrading the city.

How will the Tower project be developed

The utilization of the Tower provides for mixed uses of offices / shops and the intention of the investors until today is to form the building as follows:

  • A and B Basement: Mechanical spaces and parking spaces
  • Ground floor: Tourist information and promotion area of ​​Piraeus and shops
  • 1st and 2nd floor: Stores
  • 3rd floor: Multipurpose space of Cultural functions with dining area
  • 4th – 18th floor: Offices
  • 19th and 20th floor: Restaurant

The implementation schedule is 33 months for the radical renovation and configuration of the interiors and the immediate surroundings, the facade upgrade with the creation of a protective shell, vertical green zones and a modern lighting system to highlight the Tower as a landmark.

Moralis: New jobs and upgrading of the area

The Mayor of Piraeus, Mr. Giannis Moralis, in a statement, stressed that the development of the Tower, a symbolic building not only for Piraeus, but also for the large port of the country, is an important moment for Piraeus and its citizens, as it begins one of the most important and emblematic projects in the city.

Mr. Moralis then pointed out that it is extremely positive for our city that despite the unfavorable environment that has been formed, due to the pandemic, such a large investment of more than 50 million euros is progressing in Piraeus.

“I am very proud and happy that our efforts to take advantage of the Tower have been crowned with success, thus closing a very large chapter for the city, which has remained stagnant for more than 45 years. When we talked about the use of the Tower, some challenged us. But today it turns out that our municipal authority did a very well-thought-out and serious job with the international tender, which resulted in the nomination of a contractor, without any objections and today, the approval by the Court of Auditors, without any remarks “, underlined. Mr. Moralis.

Afterwards, the Mayor of Piraeus stated that with the development of the Tower, the revenues of the Municipality will be significantly increased, a new micro-economy will be created in the area and mainly, new jobs and at the same time, the whole surrounding area will be upgraded.

In closing, Mr. Moralis noted characteristically: “The utilization of the Tower is a milestone that the city is changing radically for the better, just as we had committed to the Piraeus.”