PROPERTY

Social security funds’ properties in Athens turning into hotels

social-security-funds-properties-in-athens-turning-into-hotels

A series of buildings belonging to social security entities in central Athens are once again being put up for utilization, most of them destined to be turned into hotels.

Demand for hospitality will offer a new lease of life to unused properties that have a single owner – a rare occurrence in the center of the capital – and are in prime locations.

One such case is the Saroglio building, which belongs to the Army Fund and the Association of Armed Forces’ Officers; this has already been leased out via a tender to a consortium of Dimand Real Estate and the European Bank for Reconstruction and Development, and is under renovation to operate under the Moxy Hotels brand.