Investor guide
Warehouse Construction Cost in Greece (2026): Complete Investor Guide
Indicative cost per m², the factors that move it, and what to check before the investment is locked in.
Investor guide
Indicative cost per m², the factors that move it, and what to check before the investment is locked in.
When a business or an investor plans a new warehouse or logistics centre, one of the first questions is: how much does it cost to build?
For 2026, published market data places the indicative cost of a modern dry-storage warehouse in Greece at approximately:
€700–€900
per m² · turnkey
In 2026, the indicative turnkey construction cost of a modern dry-storage warehouse in Greece is approximately €700–€900 per m², excluding land acquisition and warehouse equipment. Actual costs depend on the structural system, height, flooring, fire protection, MEP installations, external works and site conditions.
An opening benchmark for feasibility work — not a quotation.
Actual costs can vary considerably depending on the structural system, the clear height, the industrial floor, the loading docks, fire protection, MEP installations, external works and the characteristics of the site.
That is why two warehouses of exactly the same floor area can end up with quite different budgets.
As a general picture of the market today:
| Category | Indicative cost |
|---|---|
| Warehouse shell | €550–€650/m² |
| External works & site infrastructure | €80–€100/m² |
| Offices / administration / plant rooms | +€300–€450/m² |
| Modern turnkey warehouse | €700–€900/m² |
For offices, the figure applies to those areas specifically, not to the building as a whole.
The figures above are for initial investment planning only. They normally exclude:
So a clear distinction has to be made between construction cost and total investment cost.
Based on the €700–€900/m² range:
Warehouse, 5,000 m²
€3.50–€4.50m
Warehouse, 10,000 m²
€7.00–€9.00m
Logistics centre, 15,000 m²
€10.50–€13.50m
Logistics centre, 20,000 m²
€14.00–€18.00m
These examples are not quotations. They do show why, on projects of this size, getting the design right from the start matters so much financially.
Even a 5% optimisation can amount to hundreds of thousands of euros.
An industrial or logistics building can be built with a steel structural frame, with precast reinforced concrete, with conventional reinforced concrete, or with a combination of systems.
No single system is always the cheapest. The choice depends on:
The right comparison is therefore made at the level of the complete building system.
Clear height affects both the construction and the storage capacity. Greater height can affect:
At the same time it can raise storage capacity substantially without enlarging the building footprint.
The industrial floor is one of the most important functional elements of a warehouse. Its design depends on:
Under-specifying the floor to cut the initial cost can create far bigger problems in operation.
A simple storage building and a large distribution centre have different requirements. These may include:
These requirements have to be built into the concept design from the outset.
This is one of the categories most often underestimated in the initial budget. It can include:
On large logistics projects, external works can account for a significant share of the total investment — from heavy-duty asphalt paving through to the traffic connection to the road network.
The very same building on two different sites can have a different foundation cost. What has to be examined:
A geotechnical investigation at the start of the project reduces investment risk considerably.
The use of the building and the materials stored in it have a major influence on fire protection requirements. These may include:
The fire strategy therefore has to be addressed in the earliest stages.
A simple warehouse and a modern logistics centre can have completely different MEP budgets. Depending on the project, these may include:
The design has to account not only for the initial capex but for the building’s operating cost.
The cheapest site is not always the cheapest option. Before purchase, the following have to be checked:
A technical assessment before buying the site can therefore turn out to be one of the most valuable moves in the whole investment.
August 2026 saw the introduction of the new Special Spatial Planning Framework for Industry and the Supply Chain.
The new framework puts particular weight on the organised development of production and logistics activity and on its connection to the main infrastructure networks.
For a new investment this makes it even more important to work through the chain of location → permitted uses → access → infrastructure → permitting before the project is locked in.
It matters most in Attica and Thessaloniki, where siting is now more tightly constrained — see also our page on industrial and logistics buildings in Thessaloniki.
At the same time the market for modern logistics facilities in Greece remains strong: according to the 2026 GEOAXIS report, the supply of new warehouse space is rising appreciably.
New facilities are now designed not only for how they operate today but for:
The biggest savings are usually not made during construction. They are made in the design.
The right column grid, spans and member sizes.
Unnecessary complexity costs money.
Racking, trucks, docks and internal flows should drive the layout.
Not every element of the building needs the highest possible specification.
Architecture, structure, MEP, roads, drainage and external works have to be handled as one project.
One option is to award different parts of the project to different designers and contractors. The other is integrated turnkey delivery.
Depending on the project this can cover:
For businesses and investors without an in-house construction management team, the turnkey model can cut the coordination burden substantially.
For a meaningful initial assessment it helps to have:
None of this has to be finalised. That is precisely what the initial assessment is for.
Related projects
Frequently asked questions
Published 2026 market data places a modern turnkey dry-storage warehouse at roughly €700–€900 per m². This is an indicative range for preliminary assessment, not a quotation: the final cost is set by the specification of the particular project.
No. The range covers construction cost only and excludes land acquisition, racking, automation, materials-handling equipment, financing costs and VAT. Total investment cost is always higher than construction cost.
Neither is always cheaper. The comparison depends on spans, column grid, height, seismic requirements, fire resistance and programme, and it has to be made at the level of the complete building system rather than per material.
There is no fixed answer: the programme depends on size, structural system and above all on permitting, which usually governs the timeline more than the construction itself. A stage-by-stage programme is produced in the feasibility study.
Already have a site, or considering a new investment? Send us the location, the site area, the target floor area, the intended use and any survey or drawings you have.
Request an initial project assessmentA note on costs: the figures in this article are indicative market data for preliminary assessment and are not a quotation from Kechagias Construction. Actual cost depends on the specification, the location, the ground, the structural system, the MEP installations, the external infrastructure and the programme of the particular project.
