Hellinikon complex gets off the ground; Govt to hand over former airport

Greece’s eight billion euro Hellinikon project is getting off the ground with the government expected to hand over the site, located at the former Athens international airport, next week.

After years of delays and opposition to the project, all appeals lodged to Council of State against the urban development scheme have been cleared, paving the way for investor Lamda Development to take over the land located along the southern Athens beach coast.

Lamda will pay 300 million euros to the Greek state on June 25, a third of the total amount agreed by the two sides for the property.

"For 7 years we believed that our vision could become a reality. Today begins the implementation of all that we planned with a lot of patience and faith, but mainly passion and dedication to our goal all this time,” says Lamda Development CEO Odysseas Athanassiou.

“We have complete architectural plans for the first phase of the project which we will start presenting immediately and for which we have secured funding. With Hellinikon we will create a model project on multiple levels that will upgrade the image of the country internationally," he adds.