Hellenikon attracting 15 investors for skyscrapers on Athens' coast
The Greek company that will build the 1500-acre 8-billion euro ($9.65 billion) project at the former Hellenikon International Airport on Athens’ coast said domestic and foreign companies will bid to jointly build two skyscrapers near the seafront.
As Naftemporiki newspaper reports, non-binding offers have been received by 15 companies, mostly from outside Greece, for two of the six proposed high-rise towers.
Lamda plans to build shopping malls and hotels under a long-term lease on the spot that has been abandoned for two of the 1,530-acre Hellenikon airport site, where disused runways, terminals, and former Olympic venues have been abandoned for two decades after shutting down in 2001 for a new airport 35 kilometers (21.8 miles) northeast of the capital Athens.
The Greek company has also been looking for partners for the construction of two landmark towers of offices and residences and more than a dozen investors submitted non-binding offers, an official not named told Reuters.
The project was stalled during the 4 ½-year reign of the former ruling anti-business Radical Left SYRIZA that has hardcore elements who don’t want foreign companies in Greece.
It was picked up again when the New Democracy Conservatives easily won July 7, 2019 snap elections with then-new Prime Minister Kyriakos Mitsotakis putting in back on a fast track.
When COVID-19 hit in 2020, it was slowed, along with a faster recovery from a near-decade-long economic and austerity crisis that brought three international bailouts of 326 billion euros ($393.28 billion) that expired Aug. 20, 2018.
The site was supposed to become Europe’s biggest urban park but the economic crisis turned to mostly commercial development with some green space amid a mix of office buildings, a marina, casino, and other works.
It was unveiled in 2013 and the government today said it could create as many as 10,000 jobs during construction and attract thousands of tourists as the last link between the development of the port of Piraeus and the Stavros Niarchos Foundation Cultural Center between them along the seafront.
It had been held up by political and local opposition and environmentalists and SYRIZA’s resistance but demolition crews in the summer of 2021 began taking down some of the buildings.
Greece named the Connecticut-based casino operator Mohegan Gaming & Entertainment as the preferred bidder to build and operate a luxury resort for 30 years although a Hong Kong developer is building a rival in Cyprus.
Lamda has also set up a joint venture to build two hotels in Hellenikon and has said it aims to start infrastructure at the site in the first half of this year but officials still need to pave the way and transfer ownership rights for part of the property.
When done, the site will be perhaps the country’s biggest attraction, ending - except for a museum - the remnants of the airport built in the 1930s as Greek aviation picked up.
During the World War II occupation of Greece by Axis powers, the site was used by Nazi Germany's Luftwaffe and became a target of Allied air raids, CNN reported in a feature.
Following the end of the war, Hellenikon hosted Greek, US, and British forces but by the 1950s it had become Athens's main hub for commercial air travel. Significant reconstruction work followed, including expanded runways and a new control tower and terminal halls, the report said.
"In the 1990s, the airport had ended up handling well above 10 million passengers (annually,)" Vasilis Tsatsaragkos, President of the Olympic Airlines Workers' Cultural Center, told CNN. "Hellenikon was unable to meet the country's dynamically increasing tourism needs,” he said.
It closed as Greece became part of the European Union, switching to the euro from its ancient drachma and ahead of the 2004 Athens Olympics and a period of prosperity before the economic crisis struck in 2010.
In 2004, parts of the disused complex were transformed into venues for the Athens Olympics, hosting baseball, fencing, kayaking and other sporting events.
But years of neglect followed and the 1,530-acre brownfield site -- once envisaged largely as a metropolitan park -- was left to decay amid disagreements over its redevelopment and Greece's descent into economic chaos in the wake of the 2008 financial crisis.
In 2014, a consortium of investors signed a €915 million ($1 billion) development deal, a key part of the bailout agreement between debt-saddled Greece and its international lenders but Lambda bought out two partners.
Under the deal, Hellenikon is to be turned into one of Europe's largest coastal resorts, filled with luxury hotels and apartments, as well as shopping malls, a park, and a casino and entertainment complex.
Some of its listed buildings that will be preserved from demolition include the former East Terminal building, designed in the 1960s by the firm of groundbreaking Finnish-American architect Eero Saarinen in the 1960s.
The memory of both the abandoned airport and Olympic Airways will be kept in the new museum that will be housed in an earmarked building inside the redeveloped site, according to Tsatsaragkos.
"We have collected 23,000 items documenting the history of both OA and civil aviation," he says, adding that seven aircraft will be among the future exhibits.
"We keep gathering material. This museum is our big vision,” he said.
Read more at thenationalherald.com
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Konstantin von Wedelstaedt
- 1) Greek FM talks with Kuwaiti counterpart on bilateral relations, regional cooperation
- 2) Thessaloniki Port: Performance growth for 2023 with record container throughput
- 3) LAMDA Development malls and marinas reach new record high
- 4) IOBE: Construction sector in Greece records robust growth and good prospects
25/04 22:00
Greek FM talks with Kuwaiti counterpart on bilateral relations, regional cooperation
25/04 14:49
Prices of products in Easter Basket the same or lower in Greece than in 2023
25/04 13:57
25/04 12:44
Greece and China to ink cooperation protocols in the fisheries sector
25/04 09:53
Extended shop opening hours for Easter in Greece start on Thursday
25/04 02:19
Athens Airport voted as the best in marketing strategy at European awards in Denmark
25/04 02:10
President of Hellenic Republic visits La Chascona Museum in visit to Chile
24/04 21:31
Thirty-one Greek political parties to take part in European Parliament elections
24/04 21:25
Payment by bank cards now accepted on Athens Airport Express bus lines
24/04 14:12
Herculaneum papyri unveil more than location of Plato's tomb in Athens
23/04 23:52
Greece’s New Ambassador to the United States visits Queens in New York
23/04 21:49
Traffic regulations in Athens due to the Olympic Torch Relay on Thursday-Friday
23/04 20:59
President of Hellenic Republic wraps up visit to Uruguay at parliament
23/04 15:44
Greek government will pass legislation halving commission paid for POS transactions
23/04 15:03
Precise location of Plato's burial site unveiled by ancient papyrus
22/04 22:33
'Nature Positive' peport highlights new collaborative era in travel & tourism
22/04 21:25
22/04 20:37
Greek and Turkish delegations discuss Confidence Building Measures for 2024
22/04 18:29
Over 114,000 Greek Diaspora citizens register to vote by post in the European elections
22/04 13:40
19/04 01:29
Athens State Orchestra presents 'St. Matthew's Passion' by Bach on April 30th
18/04 21:49
Greek Climate Change Minister signs memorandum for Attica fire protection zones
18/04 20:32
'Easter Basket' and 'Godparents basket' to be put into effect next week in Greece
18/04 20:17
18/04 17:40
17/04 21:06
Thessaloniki Port: Performance growth for 2023 with record container throughput
17/04 20:57
Traffic regulations imposed in Athens for the 41st Peace Marathon on Sunday
17/04 20:52
17/04 18:15
Greek Foreign Minister addresses the 9th Our Ocean Conference in Athens
17/04 17:12
16/04 21:02
NHM hosts the Trial of Pericles at the Harris Theater in Chicago on April 17
16/04 20:17
Greece will invest $830 million to protect marine biodiversity
16/04 01:46
New York Greek Independence Parade honors 1821 and solemn Cyprus Anniversary
16/04 01:35
Olympic Games Paris 2024: Olympic Flame to be lit at Ancient Olympia in Greece
16/04 00:29
European Committee of Regions and UN release study on Rural Tourism
15/04 20:41
15/04 19:58
Minister: Greece is transforming into a hub for exporting quality agri-food products
15/04 18:51
Greek Environment Minister meets Chinese Deputy Minister of Natural Resources
13/04 00:13
UN Tourism and Croatia to launch Research Centre for Sustainable Tourism
12/04 00:03
2024 marks a critical year in the enduring strength of Greek-German relations
12/04 00:00
11/04 22:07
Ambassador: US committed to upgrade of Greek military and support NATO's SE flank
11/04 19:40
Hellenic Pride on display at rainy Chicago Greek Independence Day Parade
11/04 02:06
Delphi Economic Forum IX: Energy collaboration a 'key' in Greek-Bulgarian relations
11/04 01:58
UN Tourism launches investment guidelines for Albania sector
10/04 19:01
Greek FinMin: New package of economic measures in 2025 to lower taxes, raise pensions
10/04 18:25
Greek city of Nafplion hosts Mediterranean Yacht Show for ninth year running
09/04 23:57
Greek PM on Tilos: Innovative projects for a cyclical economy are of key significance
09/04 23:55
UN Tourism members promote agenda for Europe as region leads global recovery
09/04 23:46
HFS presents 1968, Rousing Docudrama about Greece’s First European Cup April 21
09/04 22:48
Stolen 7th-century BC oenochoe returned to Greece by Hanover museum, municipality
09/04 22:42
Greek civil servants confederation ADEDY to strike on May 21
09/04 21:55
Greek Migration Minister meets Senior US Coordinator for Lawful Migration
08/04 23:48
08/04 23:41
Elliniko-Argyroupoli Mayor marches in Greek Independence Philadelphia Parade
08/04 21:53
Project Voria casino complex in Maroussi moving ahead after environmental report
08/04 21:36
Minister: Up to 120 delegations to take part in 9th Our Ocean Conference in Athens
08/04 19:22
Direct flight from Shanghai to Athens offers access to key tourism market for Greece
08/04 18:31
AI conference to attract distinguished speakers to Thessaloniki on April 25-27
04/04 23:28
City of San Jose marks March 25 with 16th Annual Greek Flag Raising Event
04/04 22:16
Urban plans published for seven townships in Thessaloniki and Attica of Greece
04/04 17:24
FinMin: The new EU economic and fiscal framework is good for Greece
04/04 15:30
Greek PM meets with the chiefs of the international pharmaceutical manufacturers
04/04 00:15
Deputy Minister for Macedonia-Thrace meets US Embassy Deputy Mission Chief
03/04 20:12
Syracuse AHEPA Chapter 37 marks March 25th Greek Independence Day
03/04 18:10
Greece's Delphi Economic Forum on April 10-13 to focus on 'The Great Transition'
03/04 16:42
Minister: Industrial production has returned to the pre-crisis levels in Greece
02/04 18:06
30/03 23:21
Eleni Gatzoyiannis scholarship offered to Greek students at Boston University
29/03 16:44
3rd edition of 'This is Athens - City Festival' with 250+ events from May 1 until June 2
29/03 15:53
Athens Metro station Aghia Varvara to stay closed on Saturday and Sunday
29/03 13:55
Greek Foreign Minister for Economic Diplomacy concludes visit to Montenegro
29/03 12:00
29/03 11:51
28/03 18:41
Attica Region to channel 640 bln euros to services of vulnerable and disadvantaged groups
28/03 17:32
Greece to auction three-month T-bills on April 3, 2024 in a book entry form
28/03 15:46
Greece's Meteora Pyli Geopark added to UNESCO Global Geoparks network
28/03 14:44
IPTO announces framework agreement tender for undersea power cables in Greece
28/03 11:49
IOBE: Construction sector in Greece records robust growth and good prospects
26/03 23:51
St. Thomas Hellenic School honors 1821 and the Feast of the Annunciation in NJ
26/03 21:59
PM at Economic Club of Canada: Greece is an attractive investment destination
26/03 17:56
Greek State budget primary balance reaches a surplus of 3,378 million euros
26/03 11:45
Ancient Messene to get upgraded visitors' facilities after approval by Council
23/03 17:43
New requirements for 'Golden Visa' program to kick in on March 31
23/03 16:49
Athenians continue to head out of the Greek Capital for March 25 long weekend
23/03 16:47
Greek Parliament lights to be turned off for Earth Hour 8:30-9:30 pm
22/03 21:54
US President on Greek Independence Day: Alliance with Greece stronger than ever
22/03 19:51
High diplomacy and geopolitics at Delphi Economic Forum IX in Greece
22/03 19:32
Tax authorities enable payments with foreign bank cards in Greece
22/03 14:19
22/03 00:24
Greece ranks first on list of countries with fastest business environment progress
22/03 00:02
Hellenic Police acquires first electric VAN-type highway patrol vehicle
21/03 22:41
21/03 15:33
Unseen Museum presents "The stele of the twin babies" exhibition in Athens
20/03 22:48
Health Minister: 95% of Greek hospitals to perform afternoon surgeries
20/03 21:52
Greek Deputy Minister of Justice meets delegation from US Embassy in Athens
20/03 21:44
Greek Interior Minister to visit United States and Canada on postal vote
20/03 20:55
Philadelphia Icarians mark 85th Anniversary and organize Apokriatiko Dance
20/03 18:01
Development Minister: We continue the battle against high prices in Greece
19/03 22:28
President of the Hellenic Republic meets her Ethiopian counterpart in Athens
Greek FM talks with Kuwaiti counterpart on bilateral relations, regional cooperation
Herculaneum papyri unveil more than location of Plato's tomb in Athens
Extended shop opening hours for Easter in Greece start on Thursday
Athens Airport voted as the best in marketing strategy at European awards in Denmark
Prices of products in Easter Basket the same or lower in Greece than in 2023
Greece and China to ink cooperation protocols in the fisheries sector
Thirty-one Greek political parties to take part in European Parliament elections
President of Hellenic Republic visits La Chascona Museum in visit to Chile
Payment by bank cards now accepted on Athens Airport Express bus lines
Traffic regulations in Athens due to the Olympic Torch Relay on Thursday-Friday
Precise location of Plato's burial site unveiled by ancient papyrus
Prescription cannabis for medicinal use legally available in Greece for the first time
Greek Environment Minister meets Chinese Deputy Minister of Natural Resources
Minister: Greece to support Bulgaria and Romania in joining the Schengen zone
3-year stay and work permits approved for 30,000 undocumented migrants in Greece
Greek Deputy Transport Minister flies in first test seaplane flight from Lavrio port
New requirements for 'Golden Visa' program to kick in on March 31
Over 114,000 Greek Diaspora citizens register to vote by post in the European elections
Greek supermarkets record rise in value and decline in volume of FMCG sales
Flights to and from Heraklion airport in Crete resume on Saturday
Bard Gemini Pro, Google's largest AI model, now available in Greece