Hellinikon Project One Step Closer to Materialization
The multi-billion-euro Hellinikon project to go up at Athens’ former airport in the southern suburbs, is moving one step closer to realization after Greece’s Central Archaeological Council (KAS) approved the demolition of 900 buildings on the premises.
The KAS designated 13 buildings, including three chapels, as preserved.
A relevant decision must now be issued by the Central Council of Modern Monuments, scheduled to convene on April 2, before culture, environment and development ministers give the official go-ahead for the 8-billion-euro project to begin.
According to estimates, Hellinikon works are scheduled to start in May, with the casino being the first project to go up. The casino has been stalled after bidder Hard Rock took the case to the Council of State. Hard Rock International, vying for the 30-year license to operate an integrated resort and casino at the Hellinikon mega complex on the Athenian Riviera is claiming that the Hellenic Gaming Commission excluded it from the race.
Officials said that due to the coronavirus developments, the decision on the 1-billion-euro investment will most likely be issued in the summer.
“We may not be discussing in the present situation the issue of investments, and in particular, the investment at Hellinikon, but the procedures are moving ahead and as soon as the Council of State decision comes out, works will begin,” said Greek Development & Investments Minister Adonis Georgiadis announcing the KAS decision this week.