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Arsakeio Arcade in Athens to turn into Gastronomy Centre

Legendary Food is planning to turn the Arsakeio Arcade in Athens into a food hall with artisanal, gourmet and organic products from all over Greece.

Legendary Food was founded by two former bankers, Vangelis Kontzias and Panagiotis Triantafyllopoulos, brand strategist Peter Economides and businessman Aris Kefaloyannis.

They plan on investing an initial amount of € 12 million, while sources state that Greek shipping merchants are also behind this new business venture.

The Arsakeio Arcade project will cover an area of 11,000 sqm and will include stores with products from around Greece. Food and wine workshops, cooking classes for all ages, restaurants and major franchises will also be included. The project aims to promote authentic Greek gastronomy, culture and a healthy lifestyle.

The project’s construction will start in 10 months and is expected to open its doors to the public by June 2021. According to Legendary Food, the project is forecast to attract 10,000-12,000 visitors per day, which is around 3 million people per year. In addition, the project should create 500 jobs directly and 5,000 jobs indirectly.

The name of the food hall will be revealed by next month and the final development plans should be ready in six months. Legendary Food also plans to expand its concept to other cities across the globe, including New York, London, Melbourne, Berlin, and Dubai.

NavInvest Greece provides due diligence, business planning, financial modelling and investment advisory services in Greece. For further information on investing in Greece, please contact us.


Business Daily, 20 November 2019

Greek City Times, 26 November 2019

Kathimerini English Edition, 20 November 2019

Photo (c) Kathimerini Greece

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