Exclusive coverage: By Arthur Kokontis – Director/Founder of sitnokglobal.com
The Hellinikon – Urban Development Project, Athens
We cover this exciting new proposed urban redevelopment project in Athens, Greece – the site located at the old International Airport. We include links and information on everything you need to know. This is certainly an economically significant project for the future of Greece – and what the future will be.
Our vision for the development of the former Hellinikon airport is the design of a pioneering development for Athens, with great emphasis on the creation of a world class metropolitan park, as well as the enhancement of the coastal front fully accessible to the public.
LAMDA Development and Global Investment Group, which supports its offer and consists of Eagle Hills from United Arabic Emirates, the Chinese conglomerate Fosun Group and Latsis Group, fully aware of the responsibility of such a world-class project, wish to ensure all stakeholders that they are ready to rise to the project’s challenges, in appreciation of the opportunity given to participate in the developmental course of Greece via this project. This development signifies the end to the 15 year abandonment of this 6,200,000 sq.m. urban land, where the former Athens international airport of Hellinikon used to be located.
The project is a model urban development which will respect the urban and environmental balance, will disseminate the benefits to larger areas of the Attica Basin and will be characterized by versatility both in terms of the balanced mix of land uses and in terms of the creation of a Metropolitan pole accessible to all citizens.
The basic design includes the upgrading of the beach, residential developments, superregional and local commerce, hotel facilities and recreational areas, utilization of the Olympic facilities and the creation of new sports facilities, a new golf course, venues that highlight our cultural heritage, educational facilities and research centers etc. Moreover, within the Project’s framework the investors undertake the creation, financing and maintenance of the largest Greek, and one of the largest in the world, Metropolitan Green and Recreational Park, which jointly with the public use green areas of the site will cover and aggregate area of 2.600.000m2, that is 42% of the entire site.
The investors undertake the financing and construction of all transport infrastructure, public facilities and utilities networks, all necessary port works, the creation of 50klm of sidewalks and bicycle paths which will create the necessary connection with the existing and the new rail networks, the underground routing of parts of Posidonos Avenue, the renovation and operation of all listed buildings within the site, as well as the creation of a 1 kilometer beach with free-access to the public.
The development is expected to have a frontloaded positive effect in the fight against unemployment with the creation of 10.000 direct jobs and the resurgence of the construction sector which has been severely struck during the years of the prolonged economic crisis. At full development the Hellinikon project is expected to employ approximately 70.000 people of many professional disciplines.
The Projects’ contribution to the Greek GDP is expected to reach 2%, securing significant income for the Greek State and Social Security, which in the span of 25 years, is expected to reach cumulatively €10 billion. The Project’s positive impact in the country’s tourism is significant with an expected additional increase of 1.000.000 tourists per annum.
The Hellinikon cover story
The Hellinikon in the media
Press Conference by LAMDA GROUP