New Panathinaikos stadium: a triple alliance for the construction of new “jewel” stadium in Athens

The TERNA-AKTOR-MYTILINEOS consortium undertakes the construction of the new Panathinaikos stadium as yesterday the Municipality of Athens proceeded to unseal the offer.

On Monday, February 6, the financial committee of the Municipality chaired by the Mayor of Athens, Kostas Bakoyannis, will officially approve the contract for the construction of the new football stadium of Panathinaikos in the consortium mentioned above.

After this stage, the consortium of large companies led by TERNA will soon be declared the temporary contractor of the contract. This is an alliance that is strong and is coming down to such a big competition for the first time.

As everything shows, we will move quickly until the signing of the contract. The next step will be to start the so-called “pre-contractual period”.

That is, to prepare the contract and send it to the Court of Auditors. Once it is approved, we will go to the last step, which will be the signing of the contract between the Municipality of Athens and the contractor consortium.

The time process from the beginning of the competition to the signing of the contract as everything shows will be until the summer at the latest.

Completion goal for 2026

The duration of the projects is set at 36 months. In practice, the big goal is for the new Panathinaikos stadium to be operational in 2026 for the 2026-2027 season.

The project is one of the largest in the history of the Municipality of Athens and is part of the Double Redevelopment. In the next period, two additional projects related to the creation of network infrastructure (roads, pedestrian paths, drainage, electricity, telecommunications, water supply, etc.) and the general regeneration of the intervention area are expected to be tendered.

The project also includes an amount of 3 million euros as an option for the construction of a pedestrian bridge with a budget of 3 million euros.

The cost of the project amounts to an amount including VAT of 123 million euros (99.19 million euros without VAT). The project will be implemented using the study-build method. The project is financed for an amount of 115 million euros from the Public Investment Program (one of the largest proportionate amounts given for the creation of an infrastructure) and for an amount of 8 million euros from the Recovery Fund.

Essentially, the PIP will cover the construction of the stadium and the Recovery Fund, the urban regeneration of the former industrial area of Votanikos / Eleonas – Projects of landscaping and common areas in the area of Double Redevelopment and the Naval Fort in the area of Eleonas.

The object of the project

The subject of the awarded public project contract is the simultaneous study and execution (construction) of the project entitled “CONSTRUCTION OF A NEW FOOTBALL FIELD OF PANATHINAIKO IN VOTANIKO”.

For the construction of the project in question, the intended functional requirements and applicable specifications will be taken into account.

Also, the project is subject to environmental commitments according to the approved EIA.

In summary, the projects to be studied and built under the contract entitled “CONSTRUCTION OF A NEW SOCCER FIELD OF THE PANATHINAIKO IN STON VOTANIKO” are:

(a) The stadium itself (foundation, concrete etc.)

(b) The architectural and not only equipment of the field (roof, perimeter shell, etc.).

(c) The electromechanical facilities of the stadium (water supply, drainage, weak and strong currents, other electrical and mechanical equipment, etc.)