One step closer to the final stage of the tender for the new Panathinaikos stadium in Central Athens

The tender for the construction of the new Panathinaikos stadium is progressing as yesterday, according to information, the Municipality of Athens proceeded to the third protocol which essentially completes the phase of selecting a contractor.

Already a few days ago, the second protocol has been approved by which the TERNA-AKTOR-MYTILINEOS consortium become temporary contractors for the large sports infrastructure. It is worth noting that it is the largest new sports project in the country, after the completion, about 8 months ago of the new AEK stadium in New Philadelphia.

With the completion of the underwriting procedures by the Municipality of Athens, we move into the pre-contract period of the tender and of course the project. According to sources close to the tender, the contract will be written and sent within the next few days to the Court of Auditors for review and approval.

The goal of signatures in May

The big goal is now to sign the construction contract in May or by the beginning of summer. The project is financed by the country’s Public Investment Program and there is no requirement for it to be presented to Parliament.

The leader of the construction consortium is TERNA, while now INTRAKAT is also potentially taking part in the construction due to the upcoming acquisition of AKTOR. For Mytilineos it is the first major sports infrastructure in which it takes part.

The time period from the beginning of the competition to the signing of the contract as everything shows will be short with the completion horizon being about 4-5 months from the moment the participation files are received.

Completion prospect in 2026

The duration of the works 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 near future, 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 objective of the awarded public project contract is the simultaneous study and execution (construction) of the project entitled “CONSTRUCTION OF A NEW FOOTBALL FIELD OF PANATHINAIKOS IN VOTANIKOS”.

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 PANATHINAIKOS IN VOTANIKOS” 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.).