Two landmark projects for Athens: a 40,000 seat football stadium for the city’s historic Panathinaikos sports club and the development of public spaces in the western Athens suburb of Votanikos are scheduled to begin after the municipality finalized the relevant contracts this week.
“It’s a historic day for Athens. The double dream of Athens and Panathinaikos is finally taking shape and entering decisively into the next stage of implementation. In a few years, Panathinaikos will acquire a new, modern stadium, and Athenians will have a beautiful, lively neighborhood in Votanikos and an important park area on Alexandras Avenue,” said Athens Mayor Kostas Bakoyannis.
The mayor of Athens, who presented the plans for the projects earlier this year, also thanked all participating parties.
“Funding is guaranteed as are licenses. In a few months, everything will be ready,” said Development & Investments Minister Adonis Georgiadis who was present during the signing ceremony.
“Thanks to the excellent cooperation between the government, the Municipality of Athens, the amateur and professional Panathinaikos clubs and Alpha Bank, the ‘Double Regeneration’ project begins now,” he added.
Budgeted at 270 million euros, one project will host the departments of the historic Panathinaikos sports club, the team of Athens. The second project will replace the former Panathinaikos stadium, commonly known as “Leoforos Stadium”, which opened in 1922 on Alexandras Avenue and is the oldest active football stadium in Greece. Under the agreement, the Leoforos Stadium will be turned into a park.
Besides the construction of a 40,000-seat football stadium, the ambitious and long-delayed urban regeneration project includes a 12,500-seat basketball arena, a volleyball stadium (1,500), an Olympic-size swimming pool, municipal sports, culture and recreational facilities, and green space as well facilities that will house Panathinaikos’ amateur team.
The municipality has set 2026 as the deadline for the completion of all the projects.