A new luxury residential development is planned at the Allatini Ceramics site (Kerameia Allatini) in eastern Thessaloniki, through a collaboration between Avax Group and Sani/Ikos Group.

Avax is strengthening its activity in the real estate sector, focusing on the development of luxury residences, which are expected to become a key growth pillar in the coming years. In this context, a Memorandum of Cooperation has been signed with Sani/Ikos Group for the redevelopment of the Kerameia Allatini area.

The project includes the construction of a residential tower approximately 100 meters high, with a total buildable area of up to 29,800 square meters. The development will follow an exchange-for-land (antiparochi) model, meaning that Avax will undertake the construction and receive a portion of the apartments for commercial exploitation. Before the final agreement is signed, the company has a three-month exclusivity period to conduct technical studies and evaluate the project.

The investment is estimated at €250–300 million and concerns a site of 82 acres. The choice to construct a tall building allows for limited land coverage, creating a large shared green space while highlighting the historic buildings of the complex.

At the same time, seven historic buildings will be restored and used exclusively for cultural activities. The main preserved building, covering 13,000 square meters, will be granted to the Municipality of Thessaloniki for cultural use.

Another advantage of the investment is its close proximity to a station of the Thessaloniki Metro, which is expected to enhance accessibility to the area.