Piraeus: Former Tobacco Factory to Become Vibrant Mixed-Use Hub

The former Keranis tobacco factory at the entrance of the city of Piraeus, which has stood empty for two decades, is set to undergo a major transformation into a mixed-use complex, with residential spaces taking center stage. The project, spearheaded by the Canadian Mercan Group, will also include retail stores, dining establishments, and office spaces.

According to Mercan Group’s official announcements, the project has already entered the commercialization phase. The residential units will be marketed under the Golden Visa scheme, with prices starting at 250,000 euros, allowing investors to take advantage of recent legislative changes.

Under the revised Golden Visa regulations, the minimum investment threshold of 250,000 euros remains applicable to industrial buildings converted into residential spaces, provided they have not been in industrial use for the past five years and the conversion is completed before the visa application.

A Modern Urban Hub

As outlined on the Mercan Greece website, the Piraeus tobacco factory transformation will feature 408 fully furnished apartments ranging from 44 to 69 square meters, including open-plan studios