The company that purchased the old Athens airport, Lamda Development, has now turned over their plans for the coastal area of Ellinikon. On Tuesday CEO Odysseas Athanasiou announced construction work of the €8 billion plus project is to begin in 2016.
This is how the main pedestrian road will look like (Image courtesy LAMDA Development )
Lamda Development, in conjunction with investment firms Fosun from China and Al Maabar from Abu Dhabi, say most of the needed investment in “”Hellinikon” is to come from their coffers, while another roughly $1 billion will come from bank loans.
An ambitious project, the development will include a massive park, two massive hotels, a shopping mall, sports venues, and a marine club. Housing and other developments are encompassed in the plan as well.
Also within the extended plan, Olympic Games facilities, exhibition centers, and several museums are slated to take advantage of the land and former runways of the airport.
Athanasiou went on to tell of the creation of the project that will, as he says; “redefine Athens.” The video presentation below details the planned development, one of the largest speculative initiatives in all Europe.
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Very ambitious and grand project. I hope that the Greek Government and public will embrace it wholeheartedly. A project of this type would provide a great push, first for the economic recovery of Greece, and second, momentum for the creation of thousands of much needed jobs. Having been involved in many similar types of projects I can clearly see the benefits of a successful outcome.