Metals group Viohalco is moving ahead with a plan to build a new hotel in Piraeus street in Athens in an investment estimated to be worth more than 100 million euros. The new hotel will include facilities such as a conference center and will be located on a plot of land stretching over seven hectares.
Company sources say that Viohalco has already submitted an application for the investment plan to be included in its strategic investments.
The property, located in an area called Tavros, is closely linked to the history of Viohalco as it is the site where the company launched its first factory in 1937. The factory produced pipes, plumbing equipment, and household appliances, and expanded after the war.
It is one of 41 properties, covering a total of 400,000 square meters, Viohalco owns that will be transferred to its subsidiary real estate investment company Noval Property. The River West shopping center in Egaleo, western Athens, and Corinth's Mare West shopping centers are among the better-known properties held by the portfolio.
Among Viohalco's recent investments is the completion of an office building on Kifissias Avenues that will be leased to Taxibeat and another office building in Halandri, that was completed at the start of the year.