Top court gives green light to Hellinikon complex


Greece's Council of State, the country's highest administrative court, has given the green light for the construction of the Hellinikon development project in a key step for the eight billion euro investment.

In a decision made public late Thursday, the court approved the plan for the project that allows for the building of high rise buildings alongside the coast in south east Athens.

SEE ALSO: Why all the fuss with Hellinikon? The Greek Guru explains

It is still not clear though when the first bulldozer will start clearing the site of the former Athens airport, as the Greek government has a series of time consuming procedures to complete regarding the project.

Greece must first hold an international tender awarding the construction of a casino for the area, approve the building plans by each ministry involved and push the deal through parliament, among other steps.

The Lamda led investor consortium, including China’s Fosun group and Eagle Hills from the United Arab Emirates, took on the Hellinikon deal in 2014 but the project has suffered repeated delays due to bureaucracy and resistance from local residents and factions within the ruling left wing government.


© 2019 by The Greek Guru. 

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