A property of the real estate investment company Blue Cedars in Koukaki, intended for a four-star hotel, was transferred to Vivium Holding, based in the UAE, for a consideration of 18.6 million euros.
The property in question has a total area of ??4,564 sq m. and is located on the parallel streets of Faliro 22-22b and Dimitrakopoulou 21-25 in Athens.
It is currently under reconstruction and change of use from a multi-storey car park to a four-star hotel with 113 rooms, according to the building permit no. 704106/2-6-2023 of the Athens Municipal Department of Public Works.
The deadline for the completion of the transaction has been agreed to be 15.10.2025.
The value of the property in question was valued at 13.52 million euros on December 31, 2024 by the Company’s Certified Valuer.
Blue Cedar acquired the property in 2018 and has since begun the process of redeveloping it into a hotel.
Vivium Holding was founded in 2017 by Elie Khouri and focuses on alternative investments with an emphasis on real estate, technology and ast & design, as well as the development of sustainable businesses.
Thanks to its founder’s 20 years of investment experience, it is active in the development, ownership and advisory sectors in the luxury, residential and hospitality sectors in the Gulf Cooperation Council region and in selected European markets such as Greece, the UK, France, Spain and Portugal.
Vivium Holding CEO Elie Khouri is of Lebanese and French descent, an entrepreneur, art lover, veteran marketeer, and President of Omnicom Media Group MENA, the media services division of global marketing and communications company Omnicom Group.
