The demolition contract valued at €177,000 (including VAT) was signed by the Mayor of Chania, P. Simandirakis.

Significant cultural enhancement project signed by the Peloponnese Region

The asset was sold for a net amount of €3.02 million, after brokerage fees.

The final sale price exceeded the starting bid by 79%..

The building within the Arsakeio complex spans a total area of 8,032.03 square meters and stands as one of the most significant examples of 19th-century public architecture in Greece.

This development marks a significant milestone in IWG's rapid expansion, which reported record revenue, cash flows, and profits in the first half of 2024.

The property was included in the real estate management portfolio of DKG Development, after a competitive long-term lease process of the Municipality of Argyroupoli - Ellinikon.