Siemens Partners with PRODEA Investments for Digital Transformation and Sustainability of Real Estate Portfolio

Siemens Partners with PRODEA Investments for Digital Transformation and Sustainability of Real Estate Portfolio

(IN BRIEF) Siemens, a global technology company, has teamed up with PRODEA Investments, a leading real estate investment company in Greece and Southeast Europe, to implement Building X, a digital building platform. The partnership aims to accelerate PRODEA Investments’ digital transformation, reduce carbon footprint, and provide value-added services to tenants across its real estate portfolio in Greece. Building X, part of Siemens Xcelerator digital business platform, enables the digitalization, management, and optimization of building operations for enhanced user experience, improved performance, and increased sustainability. The Strategic Cooperation Agreement begins with a pilot implementation of Building X, connecting two PRODEA Investments’ properties in Athens. The goal is to gradually connect other large office buildings, logistics centers, and hotels. Building X’s modular and cloud-based platform, integrated with AI-enabled applications, will help PRODEA Investments make data-driven decisions on energy management and achieve sustainability goals. The partnership aims to enhance the development of high-tech investments in real estate, leveraging technology as an accelerator of sustainability.

(PRESS RELEASE) ZUG, 7-Jul-2023 — /EuropaWire/ — Siemens, a global leading technology company in infrastructure, mobility and industry, has partnered with PRODEA Investments, the leading real estate investment company in Greece and one of the largest in Southeast Europe, for the implementation of Building X, a Siemens digital building platform. The partnership seeks to accelerate PRODEA Investments’ digital transformation and reduce the carbon footprint of existing and under development building assets across its real estate portfolio in Greece, as well as to offer added value services to its tenants. Building X, from Siemens Smart Infrastructure, is a scalable platform to digitalize, manage, and optimize building operations, allowing for enhanced user experience, increased performance, and improved sustainability. It is part of Siemens Xcelerator, the company’s digital business platform, enabling customers to accelerate their digital transformation easier, faster and at scale.

The two companies signed a Strategic Cooperation Agreement, which starts with a pilot implementation of Building X that includes the connection of two PRODEA Investments’ properties in Athens; their headquarters and Ilida Building, where Siemens Greece headquarters are located. PRODEA Investments’ goal is to proceed to the gradual connection of the big office buildings of its portfolio, as well as buildings for different use, such as logistics centers and hotels. Building X can be implemented in buildings of various sizes and connectivity requirements.

Dr. Aris Karytinos, CEO of PRODEA Investments, stated: “PRODEA Investments is dynamically entering the era of the 4th Industrial Revolution by leveraging the high expertise of Siemens. It incorporates innovation while serving its strategy for more sustainable and user-centered buildings. This collaboration leverages technology as an accelerator of sustainability. It is a step that will contribute overall to the development of high -tech investments in the field of real estate.”

“We are delighted to embark on this partnership and co-creation with PRODEA Investments to accelerate their digital transformation with Building X. Siemens’ capabilities of connecting the real and digital worlds makes it a strong partner for companies looking to get the most out of their physical assets while addressing their decarbonization goals. We’re looking forward to close collaboration at the facility and engineering levels between PRODEA Investments and Siemens, with the goal to ensure reduced energy consumption, sustainability and lower total cost of ownership for buildings, while improving portfolio valuation for PRODEA Investments,” said Rahul Chillar, Head of Building X at Siemens Smart Infrastructure.

Building X is a modular, fully cloud-based open platform, with AI-enabled applications, strong connectivity, and built-in cybersecurity, offers a seamless experience across all applications such as energy management, security and building operations. Through Building X, PRODEA Investments will be able to make decisions about the energy management of its building portfolio based on real data analytics. Building X will help the company achieve its sustainability goals for its buildings as well as providing additional innovative services to its tenants, while maintaining high safety standards. The use of Artificial Intelligence as part of the Building X platform will enable PRODEA Investments to identify areas of energy overconsumption and accurately predict the energy performance of its buildings based on live usage data.

Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power.

In fiscal 2022, which ended on September 30, 2022, the Siemens Group generated revenue of €72.0 billion and net income of €4.4 billion. As of September 30, 2022, the company had around 311,000 employees worldwide. Further information is available on the Internet at

Siemens Smart Infrastructure (SI) is shaping the market for intelligent, adaptive infrastructure for today and the future. It addresses the pressing challenges of urbanization and climate change by connecting energy systems, buildings and industries. SI provides customers with a comprehensive end-to-end portfolio from a single source – with products, systems, solutions and services from the point of power generation all the way to consumption. With an increasingly digitalized ecosystem, it helps customers thrive and communities progress while contributing toward protecting the planet. Siemens Smart Infrastructure has its global headquarters in Zug, Switzerland. As of September 30, 2022, the business had around 72,700 employees worldwide.

PRODEA Investments is the leading real estate investment company in Greece, listed on the Athens Stock Exchange (ATHEX). With total assets exceeding €3.0 bn, Prodea Investments Group engages in real estate investments and is internally managed by experienced professionals with proven sourcing, execution and value creation track record. PRODEA Investment’s real estate portfolio consists of more than 380 commercial properties, primarily office, hospitality and retail, but also rapidly expanding in the logistics and residential sectors. With more than 80% of its portfolio located in prime urban areas throughout Greece and Cyprus and selectively positioned in other key markets in South East Europe, such as Italy, PRODEA Investment’s boasts a high- quality, high-yielding, diversified portfolio with predictable cash flows driven by high occupancy levels, long-term lease tenures and strong tenant base.

Media Contact:

Tamara Hamdan
Siemens AG
+41 793 953 208

Geortini Serpieri
Head of Sustainability Strategy & CSR Activations
+30 210 7750 750

SOURCE: Siemens


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