HIG flagship real estate investment in Western Attica

HIG flagship real estate investment: The way is paved for the big logistics investment in Aspropyrgos.

More specifically, based on the consolidation process of Hellikini Halyvourgia SA, the transfer of the plot of land measuring 291,000 sq.m., in Aspropyrgos, to Streem Development SA was completed, constituting the latter the owner of the plot. It is noted that, based on the consolidation process that started in 2019, loans of more than €150m were written off in exchange for a plot of land hosting an old steel mill that closed in 2012 (through subordination to Article 106 of Law 3588/2007- which resulted in the rescue of the company, about 600 jobs, and the continuation of the activity of the Volos steelworks. In turn, H.I.G is proceeding with the transformation of the plot into a model center for international transport and storage (via trains, ships, trucks – trimodal) with a total investment cost of over €300m.

It is noted that this project by HIG, passed the Interministerial Committee and was included in the strategic investments of the country in March 2023, while at the end of 2023, the decision of the Ministry of Development was published in the Official Gazette for the granting of incentives for the investment, regarding the development and operation of a supply chain (logistics) and transit trade complex in Aspropyrgos. Today, the rehabilitation of the plot has already been completed, as well as the demolition of the old steel mill, to a considerable extent.

HIG project’s profile

The object of the investment plan by HIG, is the construction and operation of a single, model, state-of-the-art supply chain (logistics) and combined transport unit, through land-sea-railway (tri-modal), in the area of Aspropyrgos, in Western Attica.

The intervention area has a surface area of 291,000 sq.m. and is located within the Industrial Area (VI.PE.) of the Refineries, at the 17th km of the Athens-Corinth National Road. The highway divides the area into two sections; section A (238,000 sq.m.) and section B, coastal (53,000 sq.m.). A bridge will be built to connect the two sections. In section A, a multi-purpose building (commercial, offices, hotel, restaurant, etc.), warehouses, container handling area, and a parking space have been planned. Section B includes the port, container handling area, truck handling station, warehouse, and vehicle handling station.

In particular, in the main areas (A+B section) the following facilities have been planned: 4 warehouses with an area of 122,700 sq.m., commercial offices with an area of 14,000 sq.m., 4 warehouse offices with an area of 10,700 sq.m., driver accommodation areas (1,400 sq.m. .m.), restaurant space (1,000 sq.m.), 2,416 parking spaces on an area of 60,400 sq.m., the installation of PV units on the roofs of the warehouses with a total capacity of 175,200 MW and, of course, the ship mooring port for the container transport.

The area of the project by HIG, faces the bay of Elefsina, where a ship mooring pier will be built, along with the corresponding port works and the necessary infrastructure for the loading and unloading of containers by sea. Also, to the north, the area borders the Thriasio-Neo Iconio railway line, that is, the national railway network, through which it will be possible to transport containers directly to European countries. This combination, which gives the proposed Park the possibility to unite the three main transport networks in-between them, and further with the airport, provides significant economies of scale for the companies that will be located there, as well as environmental benefits (reduction of emissions CO2, noise pollution, non-RES consumption, etc.).