Construction: In line with major private and public projects

2025 is expected to be a landmark year for large , both private and public . Many of these are planned to be completed, while others will go through the implementation phase, marking significant progress in infrastructure and development. The construction sector, however, will continue to face significant challenges, such as a strong labour shortage and increased construction costs compared to the past. One of the most important private projects expected to be completed in Spring is the reconstruction of the historic Minion implemented by Dimand. PPC has already settled in its new offices, while other users are completing their internal tasks. CORVERSE It is estimated that by the end of February with early March 2025 the Zara and the Inditex offices will be fully operational, with 3/4 of the property fully operational. More specifically, the completion of the project for the BGDE buildings, which will house mixed uses, is expected within the first quarter of 2025. Building A, which will host residential units, will be completed in a second phase, offering new perspective in the area. Also, another important private project that will make significant progress in 2025 is the office complex THE GRID, on a plot of 16,100 sq.m. area on the contribution of Heimarra and Amarousi – Chalandri streets. This project has been undertaken by TERNA and will be a total surface area of 61,500 sq.m., of which 26,400 sq.m. correspond to upper-structure areas and 35,100 sq.m. in underground areas. The Grid is a large investment, which Noval Property jointly implements with Brook Lane Capital. These sites are expected to be delivered to IE within 2025 for the necessary tasks, so that relocation begins within 2026. ADVERSE Major developments will take place in 2025 and in the great redevelopment carried out by Lamda Development at the former Greek airport. Specifically, according to the administration of Lamda, in the summer of 2025, Riviera Tower will have climbed the 25th floor, while the configuration of the external aspects will begin with the completion of the 20th floor. On the rails however, the Ellinikon Mall is soon expected to enter, as the competition will soon begin to assign the main tasks to a contractor. In the final stage will also pass the undergroundization of Poseidon Avenue at the height of the Greek, 1.3 km long with 3 lanes of traffic from Avax Group. The important infrastructure projects coming forward are expected to be carried out in the area of infrastructure, as the foundations for a number of important projects will be laid down. After the official start of the commercial operation of Metro Thessaloniki, the next day for the further development of the city’s transport system, the batal take other projects. The first extension of the Metro, that to Kalamaria, is essentially the one that enters a countdown, as it is placed at the end of November 2025 i.e. in something less than a year. This is an extension that includes 5 new underground stations: Prefecture, Kalamaria, Aretsu, New Fountain and Mikra. Once in operation Thessaloniki will automatically acquire two lines. At the beginning of 2025 the completion and operation of the Patras – Tower motorway is estimated, whose progress has now reached 66% and is expected to reach 70% by the end of the year. Specifically, the project is to be delivered to traffic in two instalments, as provided for in the agreement with the “Olympian Way”, the section of Pyrgos – Kato Achaia, a total length of 62 km, will be delivered first and will follow the section of Kato Achaia – Perimetric Patras 13 km, which is also more difficult, as it is reconstructed while in circulation. It is noted that these projects are carried out by TERNA, AKTOR and AVAX, in particular TERNA has undertaken the Gastoni – Tower section, AKTOR the part of Karaika – Gastoni and AVAX the part of Midilogli – Karaika. There is also the construction of the 30.7 km long Bralos – Amfissa road, which will connect central and western Greece to the Ionian Road and the Riou – Antiriou bridge to the Peloponnese. The projects are implemented by AVAX and have a guaranteed funding of EUR 262.2 million by the NSRF, with a budget of EUR 285 million and are expected to be completed in the summer of 2027. The Northern Section of the Central Greece motorway (E65), connecting Trikala with Egnatia Road, is also a public project with a budget of 442m euros. The project, which is under way, completes the E65 motorway as a whole, from Lamia to Egnatia. According to the timetable, its completion is foreseen for the first months of 2026. The construction has been undertaken by TERNA, while the Ministry of Infrastructure and Transport is designated as the Contracting Authority. The project contract was signed in 2021, while the section extends to the regions of Thessaly and Western Macedonia. Finally, one of the most important projects is the construction of the Thessaloniki Regional Road Flyover which is a project – PPP with a total cost of 480m euros and is in full development. The project is expected to be completed and started in 2027. The implementation is undertaken by the AVAX – MYTILINEOS scheme, with the Contracting Authority of the Ministry of Infrastructure and Transport (SYME). With its completion, the new infrastructure will significantly increase the capacity of Thessaloniki Regional Road, contributing to the effective handling of traffic charges. The contract was signed in 2022 and the project is implemented in the Central Macedonia Region.