Inextricably linked to Thessaloniki’s recent past, the history of the Modiano Market – or “Central Food Market of Thessaloniki” – spans two centuries, including many important chapters.

After the devastating August fire, engineer Eli Modiano and architect J. Oliphant begin designing the Market. The Talmud Torah Synagogue was located on this site, and according to the Hebrard Plan – named after the French architect-archaeologist Ernest Hebrard, who was in charge of the city’s redesign – the creation of bazaars was planned on this location. In fact, the French title of the Market in the plans was “Bazar Central Salonique.”

Eli Modiano constructs an elongated, single-story building with a basement and internal balconies, with a total area of approximately 2,707 sq.m. The Modiano Market becomes the first traditional food market and one of the largest indoor markets in Thessaloniki.

The Market’s opening is accompanied by an imposing celebration that has been a topic of discussion for the whole city for a long time. From the beginning of its operation, it was closely linked both to the history of the Jewish Community and to the operation of the commercial center of Thessaloniki – as it housed the best shops and products of the city.

The Modiano Market is designated as a listed building by the Ministry of Environment and Public Works.

The Modiano Market is classified as a historic monument by the Ministry of Culture as a typical example of a covered market building.

After a constantly declining course – as most of its 144 shops are gradually abandoned – where the Market retains its memories but not its glamor comes its final closing.

With the signing of the contract by the Hellenic State Property Fund in July, Modiano Market officially passes to the Fais Group.

After almost five years of planning, construction works, and rebranding, the Modiano Market is ready to house a next-generation food market concept.



The Group started its activity in the retail trade in 1978, taking over the distribution of Nike in Greece and Cyprus. By 1990 it had become the country’s largest retail group, expanding its portfolio and operations in related sectors.

It created the “Factory Outlet,” the first shopping center in Greece, with a total area of 14,000 sq.m., even achieving a turnover of 30 million euros in its 3rd year of operation.


In 1999 he created “Attica,” the main shopping center in the heart of Athens, with a total area of 25,000 sq.m., achieving a turnover of 100 million euros in 2009.


In 2014 Fais Group created “One Salonica,” the first Designer Outlet Mall in Thessaloniki and the largest of its kind in the Balkans, with a total area of 30,000 sq.m.



In 2016, it entered the food service sector, launching the Bufala Gelato fresh ice cream chain, with stores across the country and a wide franchise network.

In 2017, it acquired Lemonis SA, a leader in the luxury footwear sector, including the iconic Kalogirou & Charalas brands and stores in various cities in Greece. Kalogirou SA also operates monobrand stores of leading global brands such as Salvatore Ferragamo, Tod’s, Hogan, and Philipp Plein.


Today, the Group represents major international retail brands in Greece, Cyprus, and the Balkan countries. Its portfolio includes UGG, Under Armour, Puma, Adidas, DKNY, DKNY, Mango, Wilson, Nine West, Doctor Marten’s, Indian Motorcycles, and Princess Yachts, among others. At the same time, it enters the cosmetics sector, representing the beloved brand KIKO MILANO in Greece, Cyprus, Romania, and Bulgaria, as well as the tourism sector with luxury hospitality units in Santorini.

Hospitality & Gastronomy Division

Gastronomy and hospitality. When properly implemented, these two concepts go beyond the mere definition of service, being the best and most meaningful examples of a brand principle.

The newly created Hospitality & Gastronomy Division is the spearhead of the Fais Group at a juncture characterized by two events: the transition to the post-COVID era and the rapid recovery of the tourism sector, both domestically and globally.

The Group responds to this by investing in it holistically and multidimensionally through a series of strategic moves. Two premium-level projects are leading the way: the reconstruction of Modiano Market in Thessaloniki and the opening of the 5* Radisson Blu Zaffron Resort in Santorini. These projects are pieces of a dynamic business mosaic that reinforces a great dynamic development. Among them is the iconic Castello Bibelli tower in Corfu – the revival and development of which Fais Group has undertaken in cooperation with Bluegroud and the Bufala Gelato ice cream chain, which is a member of the Group for the past five years.

The foundation of Fais Group presence is a set of values and practices that are friendly to the environment, society, and people: sustainability, practical support for local communities, promotion of the products of each region, and a substantial boost to employment. For example, for the Group’s two new projects, a total of 450 new jobs are expected to be created (300 at Agora Modiano and 150 at the 5* Radisson Blu Zaffron Resort).

As for the follow-up? Based on the Group’s strategic plans, the Hospitality & Gastronomy Division aspires to expand to other high-profile locations in Greece, developing high-end concepts based on the current trends.