The Germans converted the historic building of the DOL into Chr. Lada – the new project of small cheap apartments

Twenty years after the curtain came down DOL on Cristo Lada Street (2004), the historic building has been renovated and is coming back to life as it prepares to receive services from Purchasing power.

German Honor + small It acquired the emblematic building located in the commercial triangle of Athens, and proceeded to completely renovate it and turn it into a modern “green” building. office complex, With cost overrun 8.5 million euros (Without purchase cost). The building is leased by PPC for the next three years with the right to renew with a lease between 25 and 30 euros per square meter, “Like the area,” he said characteristically Michael Eret, Managing Partner of ehret+klein Greece. However, the German company is open to proposals for this Sell ​​it.

The new project has small, cheap apartments

The plans of ehret+klein Greece and Parostec partners for our country do not end there. They are looking for opportunities to purchase new buildings in the center of Athens, and convert them into Small apartments (30-40 square meters), at reasonable prices for rent or sale.

It will be available exclusively for long-term stays and Not a short term rental (They say no to airbnb), and areas from Exarchia to Colonos have come under their microscope, generally in low-budget areas or where they find a good deal.

In their midst too Thessaloniki “It is clearly the most bullish market, and if we find a worthwhile opportunity, we will definitely be active there as well,” says Al-Sayed. Honoring.

Why did they invest in Greece?

There are four reasons why German company executives invested in Greece

“FirstlyBecause we have personal relations with the country for more than 30 years. secondlyBecause after 10 years of economic crisis, Greece has many untapped opportunities in the real estate sector. With our international experience and knowledge, we can help the country and Athens to develop sustainably and achieve transformation. ThirdBecause we have a large and reliable network of partners, which makes it easier for us to implement our projects. Greece is the first non-German speaking country (Germany, Austria and Switzerland) where we do business. the fourthBecause we really like to cooperate with the Greeks.” honor, And who, he said, had already begun to learn the Greek language.

The innovative mechanism of “kaleidoscope

The Cristo Lada building has been converted into a “green” building, preserving the residential culture of the area. For the first time in Greece, the innovative mechanism of “kaleidoscope“, which increased his independence Natural light On a typical office floor from 21% to 67%. Specifically, as noted during the presentation, the “kaleidoscope” consists of a lighting fixture strategically placed in the center of the building and a rooftop heliostat that follows the path of the sun and redirects sunlight to the lighting fixture.

By using existing building materials, CO2 emissions were reduced by 60% compared to new construction. Total rental area is 3,074.11 square meters. It consists of 8 floors for offices and meeting rooms, and a ground floor with a hall and a café. maybe It does not have a parking lotHowever, it is located next to a metro station, and has showers and changing rooms in the basement, for employees who choose bicycles as a means of transportation.

External solar racks on the south face allow natural light to penetrate deeper into the work spaces by reflecting it off the roof with a highly reflective surface on top.

Sun racks also provide shading from the sun’s rays and reduce glare on windows without obstructing the view, as they are placed above eye level. Finally, the photovoltaic roof produces green electricity, reducing carbon dioxide emissions.

The construction period began in February 2022, with internal demolition work, and was completed in April 2024.

It is noteworthy that this symbolic building was designed by the famous Greek architect Konstantinos Kitsikis, who studied in Germany. It was originally built in the 1930s as a three-story building, with new floors added in the 1950s and 1970s.

The new architectural vision for the radical renovation and impressive transformation of the existing building into an architectural landmark for the regeneration of the New Center of Athens is due to the award-winning Athens office of DECA Architecture, Alexandros Vaitssos and Carlos Luperina.

“Employees will be able to enjoy natural light, work harmoniously without being distracted by city noise, and interact meaningfully with their colleagues in pleasant, well-designed common areas. At the same time, the entire neighborhood, which suffered during the economic recession, becomes more attractive for future investment, making It contributes to the regeneration of Athens on a broader scale.”

Real estate worth 1.6 billion euros

ehret+klein is a German real estate development company. Founded in 2006 by Michael Eret and Stefan Klein, the company’s portfolio includes residential, commercial, office, hotel, etc. spaces.

To date, it has managed properties worth a total of €1.6 billion in Germany.

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