Piraeus is entering a phase of intense developmental momentum, as new residential investments redefine the city’s character and bolster its role as a modern urban and investment destination. Within this framework, MIBS Group is proceeding with the development of over 300 serviced apartments in the wider area surrounding the port, confirming the dynamic growth recorded in recent years.
The investment is part of a broader urban development plan implemented by the company, focusing on the revitalization of existing properties in key locations. The goal is to create modern, functional residences that meet the demands of a new living model, combining housing with hospitality services and flexible use.
Project “Etolikou Seafront”
A central pillar of this investment plan is the Etolikou Seafront project, located at the junction of Etolikou and Akti Kondyli streets, directly adjacent to the waterfront. MIBS Group acquired a former commercial building in the area, launching its conversion into a contemporary complex of serviced residences.
The project spans approximately 4,000 sq.m. and will feature high-end serviced apartments along with communal spaces designed with an emphasis on aesthetics and functionality. Its location, offering direct access to the port and the city’s urban network, enhances the project’s potential and makes it attractive to both residents and investors.
This development is a prime example of MIBS Group’s approach, which prioritizes the adaptive reuse of existing buildings, thereby reducing the environmental footprint and enhancing the sustainability of investments. By repurposing an inactive commercial property into a modern residential complex, the project contributes to the upgrade of the urban fabric and increases the available housing stock.
This strategy aligns with the general trend of urban regeneration in Piraeus, as the area around the port attracts increasing investment interest due to its geographical position and its strengthened tourist and commercial role.
The major “Etolikou 11” project and the return of “Korona”
A significant part of MIBS’s presence in Piraeus is the Etolikou 11 project, one of the most iconic redevelopments currently underway. The project involves the transformation of the former factory of the historic Korona pasta industry into a modern residential complex with a total area of 8,500 sq.m.
The development will include 158 fully autonomous residences and modern communal facilities, blending architectural modernization with respect for the building’s historical heritage. This project follows the global trend of converting old industrial spaces into modern homes, breathing new life into abandoned properties.
New developments and international capital at the port
At the same time, Piraeus continues to attract international investment capital. A notable example is the Keranis Residences project, located at 37-39 Athinon Avenue. The project, owned by the Canadian fund Mercan Capital, involves the reconstruction of the former Keranis tobacco factory.
The total development reaches 29,900 sq.m. and will include 408 fully furnished residences, commercial spaces, and modern infrastructure such as a gym, an internal courtyard, and a rooftop bar. The completion of the project is scheduled for the end of 2027, further strengthening the area’s residential stock.
New housing standards in Piraeus
These investments demonstrate that Piraeus is gradually transforming into a modern urban core, where housing is combined with high-quality services and new forms of living. Serviced apartments, in particular, are an emerging category that meets the needs of professionals, digital nomads, and long-term visitors.
In an environment where the demand for flexible and quality housing is rising, the presence of companies like MIBS Group reinforces the city’s developmental trajectory, creating the conditions for a new model of urban life by the port.
