The Arsakeio arcade, located in downtown Athens between Panepistimiou and Stadiou avenues, is one of the most iconic buildings of Athens.
A major property lease agreement signed on Tuesday will transform the empty arcade into a mini shopping mall and multiplex food court with an emphasis on traditional Grecian cuisine and the Mediterranean diet.
The arcade was once known as the Stoa tou Vivliou and housed various publishing houses, along with cafes and a few stationary shops and a hall for book launches.
The signing of a 35-year-lease was signed by Legendary Food IKE and the arcade’s owner, the Educational Society of Athens (Philekpedeftiki). The property is owned by the same non-profit organisation that manages the private Arsakeio-Tositsa primary and secondary schools.