Chania’s historic “Psigio” property attracts interest from potential investors

Successful real estate investments are built on three fundamental pillars: location, development potential, and the growth prospects of the surrounding area.

Property ABK 183 in Chania, known as the “Psigio” (“Refrigerator”), combines all three characteristics, making it one of the most attractive investment opportunities currently offered by the Hellenic Public Properties Company (HPPC).

Through an open competitive tender process, the company has invited investors to submit proposals for the redevelopment of a listed three-storey building with a total surface area of more than 1,000 sq m, located in a prime position just a few metres from the Municipal Market of Chania.

The new deadline for the submission of bids is 15 October 2026.

According to sources, HPPC granted an extension following requests from interested parties, allowing investors to complete the tourism season before preparing and submitting their participation dossiers for the tender.

The specific location has long served as the commercial and social heart of the city, while the forthcoming completion of the renovation of the historic Municipal Market is expected to further upgrade the wider urban environment, enhancing visitor flows and strengthening the area’s overall appeal.

The property offers significant flexibility in terms of permitted uses, creating opportunities for the development of hotel and tourism facilities, retail spaces, offices, food and beverage venues, or mixed-use projects aligned with current market trends.

Its position in the historic centre of Chania makes it particularly suitable for investments capitalising on the growing demand for high-quality hospitality, business, and retail spaces. The redevelopment of the “Psigio” forms part of ETAD’s strategy for the active management and enhancement of its portfolio through transparent and competitive procedures that attract private capital and generate added value for local economies.

With its unique location, historic character, and substantial development potential, the property represents an investment opportunity that combines architectural heritage with contemporary market needs, while contributing to the broader regeneration of one of Chania’s most emblematic locations.

Further information regarding the tender process and participation terms is available through the electronic platform www.e-publicrealestate.gr.