Prodexpo North 2024, the premier annual event for the real estate sector by Tsomokos Communications, showcased the opportunities and hurdles within the Thessaloniki and Northern Greece real estate market. Celebrating its 7th year, this flagship conference took place at the Makedonia Palace Hotel in Thessaloniki on February 27, 2024.

Central to the discussions was the evolution of hotel infrastructure, the latest trends in real estate, and the dynamics of buying and leasing commercial properties, along with the legal regulations shaping the market, and the regional logistics’ strengths and weaknesses.

Kostas Panagakis, Principal at Travelworks, chaired the panel discussion on New Hotel Investments in the Region. He welcomed a prestigious lineup of speakers: Panos Palaiologos, President & Founder of HotelBrain; Leon Avigad, Founder & Co-owner of Brown Hotels; Konstantinos Alexopoulos, Executive Chairman of DHR SERVICES; and Annivas Vasilopoulos, Founder & Managing Director of ANICON, Sustainable Project & Construction Managers. Together, they delved into the myriad challenges and opportunities that new hotel projects face in the region.

Panos Palaiologos highlighted HotelBrain‘s keen interest in expanding its portfolio, with Chalkidiki being the focal point. Yet, he acknowledged the difficulty in acquiring properties in Northern Greece, attributing it to the local population’s deep emotional ties to their properties.

Leon Avigad from Brown Hotels pointed out the group’s search for distinctive locations and hotels to introduce its brand. He praised Thessaloniki for its unique charm, contrasting it with Athens, and cited its lively atmosphere, historical richness, pedestrian-friendly layout, and close proximity to both beaches and Chalkidiki as major draws. However, Avigad mentioned the challenge European investors face due to the absence of a streamlined investment process.

Konstantinos Alexopoulos of DHR Services, which facilitated Goldman Sachs’ entry into Chalkidiki, emphasized the critical role of extending the runway at Thessaloniki’s International Airport to support tour operators and the development of hotel infrastructures. He highlighted the growing interest in lesser-known destinations and the concept of destination pairing, although he pointed out that such initiatives are hampered by connectivity challenges.

Annivas Vasilopoulos, the driving force behind Anicon – Sustainable Project & Construction Managers, discussed the positive momentum and development opportunities in Thessaloniki. He was optimistic about forthcoming infrastructure projects and teased an upcoming strategic partnership announcement.