Construction of the €8.5 billion Ellinikon “smart city” with an area of 6.2 million square meters was started by the Greek company Lambda Development, Newsweek writes on June 27.
According to the promoters, the “city” should become a prototype of “sustainable development” throughout the world.
It is claimed that a “city” three times the size of Monaco will be built using “the most advanced technologies and carbon-neutral practices”. According to the company, all residential areas, parks, beaches, hotels, sports and entertainment centers, educational and medical institutions will be available. “a few minutes walk”.
The smart city will include thousands of homes around a shopping center and a 600-acre (approximately 2.4 square kilometer) public park.
The company noted that the project is largely financed through pre-sold properties. In addition, the American company Hard Rock will invest 1,000 million euros in the casinos and tourist complexes part of the project.
The centre is being built on the territory of the former Athens airport. Lambda Development won the tender to develop the territory in 2014. Due to the crisis, the transfer of development rights was delayed until 2021.
The beach, Ellinikon Park, transport infrastructure and residential complexes are expected to be completed by early 2027.
Recall that the Ellinikon project was repeatedly mentioned by the Prime Minister of Greece, Kyriakos Mitsotakis. It is claimed that the project will create 80 thousand jobs, increase the country’s GDP by 2.4% and attract 1 million tourists a year.
Source: Rossa Primavera
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