New public and private investments of hundreds of millions of euros in the logistics sector contribute to Greece’s efforts to evolve into an international trading hub. With private investors leading the way, more than 250,000 square meters of new logistics buildings are estimated to be delivered by 2024.

HIG Capital’s investment in Aspropyrgos’ mega logistics park highlights major developments in modern logistics. The fund aims to create a model center for international transportation and storage utilizing train, ship, and truck routes. The goal is for the facilities to be utilized by large foreign companies looking to establish Greece as a transshipment hub for the wider European and Middle Eastern regions.

IKEA’s inaugural investment in Greece is a logistics center in Aspropyrgos, in partnership with Fourlis Group’s Trade Estates. The new facility will be serviced via the Port of Piraeus, serving Eastern Mediterranean markets and initially supporting IKEA stores in Greece, Bulgaria, Jordan, Israel, and Cyprus.

Thessaloniki also aims to become a top regional logistics hub, with several new projects underway. A key project involves converting BALKAN Export’s inactive industrial property into Northern Greece’s largest logistics hub.

The procedures for the commencement of construction of the Thrace Commercial Center, also known as Thrace I, are advancing rapidly. The project is being undertaken by the joint venture ETVA VIPE – Goldair. The master plan includes warehouses of unique size, offices, parking spaces, customs facilities, as well as direct railway connection within the Commercial Center.

Regarding the Thrace II project, also known as the Freight Railway Station and Sorting Station the Ministry of Infrastructure and Transport has extended the validity of the offer by Hellenic Train – Damco until June 30, 2024

Furthermore, the conversion of the former Gkonou military camp in western Thessaloniki into a modern national-scale logistics center is on track. The Thessaloniki Freight Center will link the port of Thessaloniki with the Balkans and Eastern Europe through combined road and rail transport networks.

Meanwhile, the relocation of the “operational center” of 391 transport companies from Eleonas to the Municipality of Fyli is shortly expected. The significance of the project for the western region of Athens is enormous as it will divert 4,000 trucks from major roads and attract over 1 billion euros in private investment.