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Hellinikon: auctions for new infrastructure to commence in July – Coastal avenue to go underground



Ο Οδυσσέας Αθανασίου της Lamda Development - Πηγή: Lamda Development

Τhe first auctions for infrastructure projects at Hellinikon will begin in July. This was announced during the annual General Assembly by the CEO of Lamda Development, Odysseas Athanassiou. The projects, as he noted, have a cost of 500 million euros and half of them will have been auctioned in 2021 and in total in 2022.

Infrastructure tenders and undergrounding begin

The projects include the creation of a road network, sewerage, water supply, telecommunications, the coastal front, flood protection projects, etc. At the same time, answering a question from, he stated that the work of undergrounding Poseidonos Avenue will begin, which will include the section that will start from the point where the night club Poseidonio is located and will end at Alimou Avenue. The cost is about 55 million euros.

Regarding the possible connection via Tram, Mr. Athanassiou noted that other solutions are being considered that will be announced in the near future.

In the first five years, the construction projects will develop investments of 1.5 billion euros, which concerns Lamda investments, and in addition, we will have investors with agreements that have been closed and others that are coming. It is a great opportunity for the recovery of Greece, said Mr. Athanassiou.

Building development agreements

Already the first agreements are with TEMES concerning the hotel in the Marina of Agios Kosmas and residences on the adjacent pier and in the bay of Agios Kosmas which includes a hotel and residences (bungalows). The goal is for tourism to spread throughout the 12 months.

We also have the investment of Fourli for a new Retail Park and we will have stores from IKEA, Leroy Merlin, Intersport etc.

He also announced the presentation on July 7 of the first green “skyscraper” in the world, the Marina Tower, and after September there will be continuous presentations.

Vote of confidence in Lamda Development

The head of Lamda Development, Odysseas Athanassiou, noted that it is a historic day for the company and the country. “In 2020 we made great progress, we completed to a large extent the studies, the architectural plans and we started the preliminary works, including the demolition.

This year, all issues were closed, all objections were rejected by the CoF and the law on distribution was passed, the issue with the casino was settled in consultation with the HRDH and we are ready for the vision and to give the 300 million euros “.

It is a vote of confidence for Lamda, stressed Mr. Athanassiou, who characterized Elliniko as a vision and vehicle for recovery and development.

It is a huge investment of 8 billion euros with an area of ​​3 times Monaco with a coastline of 3.5 km. It is, as he said, a great opportunity for the country.

He explained that priority was given to the coastal section because it is essentially an independent section for tourism that can be spread through Elliniko all year round and not only in summer. He also announced the development of 250 acres.

Giannitsis: 6 billion euro investments in the first decade

Investments in Elliniko in the first decade of construction will amount to 6 billion euros, according to what the president of Lamda Development, Tassos Giannitsis, said.

He underlined that after 9.5 years we reach the historic point to proceed with the transfer of the area and to start the big investment. He thanked all the governments and noted that the project had to go through many phases, reactions, reservations and support. Mr. Giannitsis also gave the marks for the project:

About 6 billion euros will be invested for the project in the first decade and he characterized the technologies that will be used as pioneers both in urban planning and construction.

The value that Elliniko will create spreads throughout the country, the economy and the development that the country expects.

The whole process took place in conditions of crisis and uncertainty. Nevertheless, the plan remained alive and many obstacles had to be overcome. Today, the project, as revealed by Mr. Giannitsis, is 1.5 years ahead of schedule.

Mr. Giannitsis praised the contribution of the Board of Lamda Development, Odysseas Athanassiou who, as he said, is credited with great success. The Board, he noted, has long supported the plan and congratulated those who reached the project at such an advanced stage.

In this case the Lambda is different from that 2 years ago, it will have a special place in the Greek business.

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