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Elliniko: Countdown for the signing of the of the big project



The happy ending in the competition for the casino in Elliniko brought smiles to the Ministry of Development and Investment and the government. Besides, the Prime Minister, Kyriakos Mitsotakis, stated that he was “particularly satisfied” with the apparent completion of the tender for this large investment.

At the same time, at Lamda Development, preparations for the start of the first phase of major projects are beginning and accelerating. Preliminary work for the demolition of the approximately 900 buildings on the site continues and is expected to be completed soon.

In the coming weeks, the fencing works of the area, where the investment is delimited, will begin. These days the internal competition from Lamda for the selection of the contractor is being completed. The object of the project is to fence the space that will essentially be turned into a giant construction site and at the same time to be protected from future attacks or vandalism.

The investment site will remain under construction site status and, as the phases of the project are completed, it will be gradually returned to use. It is to be reminded that, according to Lamda’s schedule, the projects will be completed in three distinct phases.

The competition is in full swing for closing

The “eternal” competition for the investment of Elliniko, according to sources with knowledge of the subject, is going to be completed after 9 whole years. What remains is the submission of the bill by the Ministry of Development and Investment, which will determine precisely the ownership status of the entire area as well as the land uses.


According to recent statements by the Minister of Ministry of Development and Investment, Adonis Georgiadis, this is expected to happen in the next month, i.e. in November. This is a final critical step that will help to separate the ownership of all the planned projects or facilities.

For example, the Metropolitan Park, the new 1 km beach in Agios Kosmas, the sewerage-water-electricity networks, the roads etc. will be constructed by the investor, but upon their completion will be considered public, under the supervision of various public bodies. Both the Park and the beach will be fully accessible to the public and will be one of the landmarks of this investment. In general, there will be very few places where access will be limited and this will mainly concern houses or buildings.

The goal is to have the closure of the tender by the end of the year – in a festive atmosphere – with Lamda Development depositing 300 million euros in the HRDH, completing a period, in which the project and the investment were disputed, fought and had to pass many years to mature both operationally and socio-politically.

One pending issue is the trial in a few days, of appeals to the CoC by groups of citizens. According to sources close to the issue, there is no particular concern as the issue of objections (mainly urban issues) has already been addressed with previous decisions.



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