The Canadian government has sold its former embassy building in Athens to MK Mykonos Hotel Company SA, a subsidiary of Turkish company Dogus Holding for €4 million.
The building – just under 1,400 square metres at 4 Ioannou Gennadiou Street – is situated just over 3.2 kilometres from the Acropolis, and sold a great deal cheaper compared to real estate in other EU capitals – a result of the country’s economic crisis.
Ana Vukovic, a managing director at Colliers International for Serbia and Greece (which was hired by the Canadian government to sell the property) said the current economic and political climate in Greece made the sale notable.
“There was nothing moving in Greece,” Vukovic said. “It was amazing we got this done.”
The Canadian Embassy has since moved to Chalandri, in northern Athens after the existing property was deemed inadequate.