The Ellinikon: Deal Signed for Integrated Tourist Resort-Casino on Athenian Riviera
LAMDA Development and GEK TERNA Group on Friday signed the agreement for the concession of the land on The Ellinikon site on which the latter will develop Greece’s first integrated tourist resort-casino (Integrated Resort Casino – IRC).
The duration of the land agreement is 30 years.
“Another agreement for the landmark project The Ellinikon has been completed,” LAMDA Development CEO Odisseas Athanasiou said.
The planned IRC will consist of a five-star hotel, a conference and exhibition centre as well as an arena for sports and/or cultural events and a casino. The development of the IRC is estimated to be completed within three years from the commencement of the relevant works.
“The modern, of high international standards, tourist resort will attract thousands of visitors from Greece and abroad, contributing to our vision that The Ellinikon becomes a reference point in the international environment,” Athanasiou added.
Part of the highly ambitious project The Ellinikon along the Athenian Riviera, Greece’s first IRC will also see the participation of Hard Rock International.
Commenting on the agreement, Manos Moustakas, chairman of IRC HELLINIKON (subsidiary of GEK TERNA), referred to “an important step” towards the commencement of construction of the Integrated Tourist Resort-Casino in the heart of the Athens Riviera.
“Which is also on the largest investments currently being undertaken in Greece, with multiple benefits for our country,” he added.
The Ellinikon, considered the biggest greenfield urban infrastructure development investment in Europe, is the largest privately-funded investment to be carried out in Greece, budgeted at around 8 billion euros and set to create more than 75,000 jobs. The Ellinikon will also house Europe’s largest coastal park.