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GreekReporter.com Greece Elliniko Project Hits New Snag as Residents Lodge Appeal

Elliniko Project Hits New Snag as Residents Lodge Appeal

An artist’s impression of the Elliniko redevelopment once completed

The long-delayed development of the old Athens airport in Elliniko has hit another snag as hundreds of residents launch a legal challenge.
The Council of State, Greece’s highest administrative court, will now have to revisit the case a few months after it gave its approval for the beginning of works.
In February, it ruled the planned investment to be legal and constitutional and gave the green light to Lamda Development, a Greek-Emirati-Chinese consortium that has undertaken the project, to start work.
The project will turn the abandoned site into a multi-purpose complex that will include hotels, luxury apartments, amusement parks and a casino.
According to reports in the Greek media, U.S. giant Caesars Entertainment was also interested in bidding for a casino license at Elliniko.
The development was one of the three remaining prior actions for the completion of the third review of Greece’s bailout program and the disbursement of the €5.7-billion ($6.8 billion) loan tranche.
Agreements to redevelop the site of the former airport need to be finalized by June.

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