- Dimand sets its sights on Greek hospitality with 800 million euro investments.
- Two significant developments: the old US base in Gournes, Heraklion, and the famous Kamba estate in Kantza.
- Plans include luxury hotels, mixed-use developments, and even the irresistible lure of a casino.
- Timelines stretch to 2026 for that patient or immortal enough to care.
- Projects in Thessaloniki, Piraeus, and Athens round out their crowded investment dance card
- International partners might squeeze in before the curtain falls
- Commercial overperformance at Project Skyline gives executives a glow not seen since the olive oil bubble
- Dimand retains a safe distance from public works, except when the public works include a decent growth angle
- The company’s portfolio covers everything from logistics to the sort of offices everyone now pretends to hate
Spending Like There’s No Tomorrow
Dimand has decided that the best way to win in Greek tourism is to throw 800 million euro at the problem and hope for the best. Under the clinical guidance of CEO Dimitris Andriopoulos, the company is establishing a strong presence in the hospitality sector. The theory: build big, make it fancy, and hope international investors find Greece as attractive as beachgoers do.
The jewel of this plan sits outside Heraklion, where the echoes of American military boots have given way to the clink of casino chips. In Gournes, Dimand plans to build two luxury hotels spanning 60,000 square meters, complete with supporting amenities, and, for those seeking more than a tan, a gleaming casino. The project needs a new master plan by late 2025, followed by four years of construction, because nothing says tourism like waiting until 2030 for your reservation.
Not to be outdone by its ambition, the Kantza project will sprawl across 90,000 to 95,000 square meters, briskly mixing homes, retail spaces, office blocks, and the odd hotel. The design remains a work in progress. By 2025, architects will finalise their plans, only for consultants to review and refine them again in 2026. International hotel operators may still wrestle for a foot in the door, if only for the bragging rights.
Meanwhile, Thessaloniki is getting its own Dimand facelift, most notably at the former FIX plant. Plans include—surprise—another hotel, this one spruced up in partnership with Foster & Partners. Construction is expected to begin around late 2025 for those who track their lives in development cycles.
Side Quests, Power Moves, and Property Gymnastics
Dimand’s hospitality pivot sits within a larger investment circus. At any time, ten projects are in motion, turning the company’s executives into events coordinators, property auctioneers, and sometimes fortune tellers.
Consider the Piraeus Tower, a landmark that may soon fulfil its destiny, as an opportunity for Demand to cash out—assuming they find someone charmed by its 75% lease occupancy rate. The MINION building and the old EED building on Patision have tenants lined up and seem headed for sale. Softex in Votanikos crawls forward thanks to two pre-leases and the promise of delivery within two years. The Maroussi TEE project delivers another taste of complex partnerships, combining TERNA and the Athens Medical Group for a handover in 2026. The Korai 4 property works overtime to give the Piraeus Bank office workers a new address adorned with whatever design trend remains in 2026. Neo Faliro features the involvement of the Ioannou family and AVAX, with shovels expected to break ground just in time for the inevitable global financial hiccup at the end of 2026.
Up north, Thessaloniki’s logistics hub draws interest from foreign tenants because nothing says modern Greece like cargo.
Project Skyline, introduced in partnership with Premia, EBRD, and Alpha Bank, achieved such commercial success that its prices surged 30% above what even the optimists had expected. The boardroom must have looked like a lottery winner’s brunch.
Despite all this, Dimand handles the topic of public sector investment with caution, focusing only on those projects that promise real growth. One notable exception is the pending makeover of the Thessaloniki International Fair, which whispers sweet growth margins into the company’s ear.
- 800 million euros to be spent on hotel construction and mixed-use projects in key Greek regions
- The timeline for major hotel openings stretches to 2026 and beyond
- Dimand balances hospitality ventures with an assorted portfolio of logistics and office properties
- Projects tempt international investors, except when local politics spoil the recipe
- The company stays away from most public works, except when there’s a chance for actual progress
In the world of Greek tourism, Dimand steps forward, chequebook in hand, promising new hotels, city projects, and enough construction to keep architects busy and tourists guessing. The only thing more certain than cement dust is that these plans, like all ambitious blueprints, come with a punchline only the future will deliver.
