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Athens starts work on largest urban infrastructure project in Europe
Athens has launched the Ellinikon project on 17 October to transform the Ellinikon International Airport closed in March 2001. Under Mayor of Athens Kostas Bakoyiannis, the city will become home to the largest urban infrastructure project in Europe and the largest private investment in Greece thus far.
The project includes the construction of commercial and recreational hubs, including the first “smart” park in Greece, the largest coastal park in Europe and Greece’s first integrated casino and resort, among other. In addition, private investors will build luxury hotels, villas and accommodation infrastructure as well as Greece’s first “green” skyscraper.
According to estimates, the project will create upwards of 75,000 jobs, increase the number of tourist arrivals to the Athens area by roughly one million annually and increase GDP approximately 2.5%. The first building projects are to be completed in the second half of 2023.
Speaking at the launch of the project, Greek Prime Minister Kyriakos Mitsotakis pointed out that the Ellinikon is “an unprecedented project for our country” and added “today, Greece is making history.” Lamda Development, the real estate company implementing the project, stressed that the project will promote Greece on the international stage.
CEO Odisseas Athanasiou concluded that the company is “fully aware of our responsibility and we are committed to overcoming all difficulties to achieve in carrying out the most beautiful urban regeneration project in Europe.”
(Photo credit: Lamda Development)
