100 million investment of Oliaros
The real estate development company "Oliaros" is going to invest 100 Million Euros to redevelop the urban island at Kerameikos-Metaxourghiou. This amount has been received from the investment portfolio of institutional investors, which is based in Cyprus, while the development will be implemented over the next five years and includes five distinct phases.
The company owns a diversified portfolio of properties, both in terms of type and use, meeting the current needs of living in and building a modern urban environment, which includes housing (43%), offices (9% ) outdoors (19%), commercial spaces (21%) and storage (8%).
Particular emphasis is given to the planned environmental dimension of 2,800mē gardens, 1,800mē green roofs, 1,500mē Photovoltiac systems and 800mē of vertical gardens. The creation of 260 parking spaces for private use is provided as well.
The sustained involvement of the region revealed through cooperation with 19 Greek and foreign renowned architects including Elijah Zekelis, Paul Kalligas, Andreas Angelidakis, Aristides Antoniou in studio BOW WOW from Japan etc.
Note that the neighborhood of Kerameikos-Metaxourghiou in the recent decades has been declining despite the interest and efforts of the Municipality of Athens to assist the area in reversing the negative trend.
The living conditions in the area today does not attract new residents -even though the neighborhood is near the city center- and even older residents and even the fearless ones are thinking of leaving it.
The direction of changing this situation is to improve the living standards of the residents along with the direct assistance of the state for effective interventions in order for healthy development of the region's sustainability to be succeeded.