The development will include 158 serviced apartments.

The project has an estimated budget of €16.7 million, with a construction period set at 670 days.

According to a Cushman & Wakefield Echinox study, demand remains strong, with companies leasing approximately 1.4 million square meters between 2024 and the first half of 2025.

TotalEnergies will receive a total of $950 million at closing.

The property is located in the Delaware Urban Redevelopment area in Philadelphia, USA, and was originally built in the early 1900s.

PHAEA S.A. is proceeding with the development of an Integrated Tourist Resort in Plaka, Elounda.