Historic Keranis tobacco factory in Piraeus to be transformed into mixed-use residential complex

Redevelopment has begun on a historic tobacco factory building in Piraeus, with plans to create 408 apartments across nearly 30,000 square metres.

The project extends beyond residential accommodation. The development will incorporate office space, a fitness centre, cafés, retail outlets and terraces offering city views. The scheme is positioned as a catalyst for district-wide regeneration, encompassing infrastructure improvements, job creation and the revitalisation of surrounding areas.

The project is backed by Canadian firm Mercan Group, which brings 37 years of experience to the venture. Whitestone serves as contractor, with Arbitrage Development acting as project manager. The Mayor of Piraeus has emphasised that this represents not merely construction but a strategic framework for urban development. The official launch drew politicians, business leaders and representatives from the local community.

For investors, the complex's location is strategically significant, positioned near Piraeus port, central Athens and the Aegean coastline.

Source: Portugal News