Hellinikon project plan heads to top court in big step

December 28, 2017

 

 

Greece has submitted a presidential decree on the Hellinikon urban project, one of Europe's largest, to the country's highest administrative court for approval in what is seen by many as a crucial step in kickstarting the delayed eight billion euro development.

 

The presidential decree was signed by the country's economy, environment and culture ministers after the latest bout of delays to the project from archaeological authorities. It is not clear when the Council of State, Greece's top administrative court, will issue a decision but Prime Minister Alexis Tsipras (second from left above) has said he expects building to start on the site, located in south east Athens, before the summer.

 

SEE ALSO: Greek PM in a race against time on Hellinikon project

 

The Lamda led investor consortium, including China’s Fosun group and Eagle Hills from the United Arab Emirates, took on the Ellinikon deal in 2014 but the project has suffered repeated unexpected setbacks due to red tape and resistance to the privatisation from factions withing the ruling left wing government.

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