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Delayed Athens resort project revived

Profile Photo By: Steve Shellum
March 6, 2017

Delayed Athens resort project revived

Athens, Greece – 6 March 2017 –
A 7.9 billion euro plan to turn a derelict former Athens airport into one of Europe’s biggest coastal resorts, included in Greece’s latest international bailout, will go ahead despite recent delays, Reuters reported.

Under the deal signed in 2014 and revised last year, investors lead by Lamda Development will pay 900 million euros for a 99-year lease to turn the Hellenikon site, a wasteland of decaying terminals and rusting airplanes, into a seaside town of hotels and residences. That project is expected to cost 7 billion euros.

Lamda, which will be backed … Read More

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