KAS signs off on Hellinikon mega-resort development

Hellinikon development sign off
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The long-delayed EUR8bn Hellinikon mega-resort development at the site of Athens’ former Elliniko International Airport has received a boost after an influential advisory body signed off on the project.

 

Greece’s Central Archaeological Council (KAS), which had previously opposed the project, has given its approval for demolishing the buildings on the site.

While the administrative approvals for the development have been further delayed due to the COVID-19 outbreak, Greece’s development and investments minister Adonis Georgiadis said that the necessary bureaucratic work to get the project underway is still ongoing.

The Hellinikon project will also include an integrated resort concession. This was awarded to Mohegan Gaming and Entertainment following a tender, triggering an appeal by Hard Rock International.

Georgiadis said this appeal will be heard by the country’s highest administrative court, the Council of State (CoS), in April.

The overall Hellinikon project will be undertaken by a consortium led by Lamda Development, Greece’s main private property developer, in partnership with China’s Fosun Group, and Abu Dhabibased developer Eagle Hills Properties.

Described as “Europe’s biggest urban regeneration project”, Hellinikon will include residential space, a park, offices, shopping malls, cultural venues, and a marina.


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