The area west of Athens, called Aspropyrgos, is considered to be the beating heart of logistics in Greece. It is attracting investment funds aiming to develop large infrastructure projects and driving land prices through the roof.

Deep-pocketed logistics investors
Even companies with deep pockets are reportedly growing wary of the high demands from landowners, described as excessive.

The recent real estate boom has extended to logistics properties as well.

According to real estate professionals, land in the broader area is now priced at €120,000 to €130,000 per stremma (1,000 square meters).

Large plots are scarce
The shortage of land is playing a critical role, with only a few plots suitable for such large-scale investments.

“There are many properties owned by different people, which makes the process of assembling the required land more time-consuming and expensive,” they note.

While prices are a challenge, they are not the biggest concern among industry observers.

Warning over road infrastructure
The number one issue, they say, is insufficient transport infrastructure. They warn of increasing traffic congestion unless improvements are made quickly.

“The Attiki Odos is not enough, and NATO Avenue is now too narrow to handle the volume of transport expected,” they emphasize.

A recent remark by Konstantinos Bitros, head of Inventio and manager of HIG Capital’s investments in Greece, illustrates the issue. Bitros is currently developing a Logistics Park on the former site of Hellenic Halyvourgia.

During peak hours, he noted, trucks descending from Aspropyrgos to the National Highway wait 35–45 minutes at the traffic lights.

According to him, the new road axis connecting Elefsina to Oinofyta—starting at junction 3 of Attiki Odos—is essential. He also called for the proper restoration of the Athens–Thessaloniki railway line.

Projects transforming Aspropyrgos

Several multimillion-euro projects are currently underway, aiming to breathe new life into the logistics sector and transform the region.

One of the most high-profile is the Thriasio Freight Center, spearheaded by a joint venture between Goldair and ETBA VIPE.

With a budget of approximately €260 million, it is the second-largest private investment in Attica after the Hellinikon project, and is expected to be completed by late 2028.

It will feature 265,000 sq.m. of state-of-the-art storage space, generate green energy, and recycle all water used on-site.

IKEA’s international hub
IKEA, in collaboration with its Greek partner Fourlis Group, is planning to establish an International Distribution Center for the Eastern Mediterranean.

The €70 million investment is expected to create 100 permanent jobs upon launch.

Initially, the IKEA distribution center will serve stores in Greece, Bulgaria, Jordan, Israel, and Cyprus, with plans to expand to countries such as Egypt.

Products will be collected from IKEA’s suppliers at the hub and then dispatched to each destination based on incoming orders.

The transformation of Hellenic Halyvourgia
The former Hellenic Halyvourgia site will become a Logistics Park, through a €300 million investment by U.S. investment fund HIG Capital.

The development plan includes a tri-modal logistics center integrating road, sea, and rail transport, with warehouses, warehouse offices, commercial offices, parking areas, a hotel, a private clinic, retail spaces, dining areas, and fueling stations. The existing port will also be upgraded.

A product assembly facility is also part of the plan.

Mega logistics project by METRO
According to reports, the METRO Group (Panteliadis family) is actively working on a logistics center in Aspropyrgos, covering over 45,000 sq.m.

The €70–80 million investment aims to optimize the group’s supply chain.

An estimated €20 million will be allocated just for land acquisition.

The group’s management has already approached real estate agencies and contractors to initiate the land assembly process.

The goal is to complete the project within the next five years, with construction potentially starting by late 2027, if all goes according to plan.

Source: OT