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Real Estate
In Northern Greece, Thessaloniki took a bold step toward redefining its urban identity during a high-profile event at the iconic Olympion, where partners of Elxis, Giorgos Gavriilidis and Vangelis Nastos were present alongside some of the country’s most influential political, cultural, and real estate leaders.
Held in the heart of the city - next to Elxis Thessaloniki offices - on November 20th, the gathering marked a milestone for Northern Greece, spotlighting the ambitious redevelopment vision for the historic FIX site and the broader transformation of the western districts. The gathering drew leaders from across the political, cultural, and real estate landscape, including the Minister of Culture, Lina Mendoni, and prominent stakeholders from Greece’s property development sector. For those unfamiliar with the site, FIX was once one of Thessaloniki’s most recognisable industrial landmarks. Its red-brick buildings, vaulted structures and distinctive architectural details reflected a significant part of the city’s economic past. Today, the aim is to bring these structures back to life in a way that respects their original character while opening the door to new uses and contemporary design.
A New Cultural and Urban Landmark for the City
The focal point of the event was the unveiling of the ambitious Fix MasterPlan, a project led by DIMAND that promises to redefine the western entrance of Thessaloniki. For decades, the former Fix brewery, an iconic 25-acre industrial complex, stood abandoned, a silent reminder of the city’s manufacturing past. Now, through a carefully designed plan by the internationally acclaimed architectural firm Foster + Partners, the site is poised for a spectacular rebirth.
Fix MasterPlan Explained
The plan involves: The restoration and reuse of the three listed buildings; the construction of two new bioclimatic buildings (residential and hotel), LEED Gold-certified; the development of extensive green spaces and public walkways; the creation of a large urban square, similar in size to Aristotelous Square. The architects’ approach combines restoration with new construction, creating a balanced environment where the industrial heritage of the site can coexist with modern residential, cultural and hospitality spaces. One of the most important components of the project is the conversion of one of the main buildings into a cultural centre managed by the Greek Ministry of Culture. This space will host major cultural institutions, including significant art collections and music organisations. The interior design remains intentionally minimal, so the original architecture can remain visible and present. The idea is that the building itself becomes part of the cultural experience. Culture Minister Lina Mendoni highlighted the significance of the occasion, saying it marks an important moment for Thessaloniki. She emphasised that the area is managing to honour its past while evolving into a contemporary district that will host new housing and commercial activity.
The project includes the new Cultural Hub, which will house MOMus – Museum of Modern Art, the Costakis Collection, and the Thessaloniki State Symphony Orchestra. The Museum of the Holocaust in Greece is being developed in the immediate vicinity, reinforcing the area's role as a hub of memory, education, and contemporary culture of international significance.
Modern Living: Residential Vision and Architectural Approach
In addition to the preserved structures, the masterplan introduces several new buildings. These include residences, shared public areas, and a new five-star hotel. The hotel, designed across eight levels, aims to become an open and welcoming space, with public areas and a strong connection to the cultural elements of the site. The plan includes 153 rooms, landscaped outdoor spaces, and a signature pool area that visually ties the new development to its surroundings. The 9-story residential complex will consist of 96 apartments, will have 147 parking spaces, and will cover an area of 18,900 square meters, as well as an 8-story five-star hotel that will be built on 11,000 square meters and will have 80 parking spaces. The residential part of the project adds another layer to the overall vision. Around one hundred apartments will be built, offering modern layouts, large terraces, natural materials, and open views toward the sea and the city. The buildings gradually rotate as they rise, so the lower floors face the historic structures, and the higher floors open toward the waterfront. This approach allows the project to maintain a dialogue between old and new, while making the most of the location.
During the presentation, both international and Greek speakers emphasised that this project is an opportunity to give a strong new identity to a part of Thessaloniki that has long been underused. For Elxis, attending the event was a valuable chance to stay informed about a development that combines heritage, culture and modern urban living; a combination that increasingly shapes the future of real estate in Greece.
