Votanikos Business Park: a former industrial site in the heart of Athens turns into a new high-end mixed-used real estate project

Dimand’s major investment in the new Votanikos Business Park, which will utilize the former Softex property in the Votanikos area, is progressing.

The former industrial facilities have been demolished, leaving only three buildings that will be renovated after structural reinforcement works, which are currently underway.

The Business Park will feature 10 buildings, offering office spaces and commercial areas to meet the needs of employees and visitors. Additionally, a large green space covering 15,000 square meters is planned.

Project overview

The project, with a total eligible cost of €152.22 million, will be financed through a bond loan of €106.44 million. The Recovery Fund will contribute 40%, and Alpha Bank 30%, collectively covering 70% of the investment cost. Dimand will finance the remaining 30%.

IQ Athens is implementing the project as a wholly-owned subsidiary of Dimand.

The completion of the Business Park is planned in phases, with the entire project expected to be finalized by 2027.

The Votanikos Business Park will be the first and only integrated office complex in the Votanikos area. A key challenge is to attract businesses that will view this location as a modern urban zone, transforming it from obscurity into a thriving urban hub.

Votanikos has significant advantages, including a Metro station, plans to relocate KTEL intercity bus terminals, and the completion of the Double Regeneration Project (Dipli Anaplassi).

Its location is strategically important. It is surrounded by major thoroughfares like Kifisos Avenue, Iera Odos, Piraeus Street, and Petrou Ralli Street. It is near the city centre of Athens and the Faliro coastal front.

The redevelopment of the Softex property will involve constructing and renovating 10 buildings across a 50,000-square-meter area. The goal is to create office buildings certified under LEED Gold and Well standards.

The total construction area will be 79,202 square meters, of which 47,000 square meters will be above ground.

The buildings will have A+ energy class certification (according to KENAK standards). The common areas will include 15,000 square meters of green planting, and a 1MW photovoltaic installation will contribute to daily electricity needs. The property is adjacent to the Agricultural University of Athens.