The Athens waterfront

The Hellinikon Project is a mega development scheme which will revamp the former site of the Athens International Airport and its surrounding areas, situated on the coastal area of Hellinikon destrict, 10 km south of downtown Athens. The area surface to be developed is 620 hectares, (1500 acres) and is expected to create 70,000 jobs by 2031, according to a study by the Foundation for Economic & Industrial Research (IOBE). The development is projected to boost GDP by 1.5%. The overall cost is expected to exceed €2 billion.

A place to live and rejuvenate

The site will serve multiple purposes. A large part of it is expected to become a vast metropolitan park with extensive green and open spaces, a lake and sports facilities. Once completed, the park will be almost double the size of Central Park in New York. Real estate business will certainly grow in the area, although developers agree that the land use is not to be limited to the creation of yet another residential area.

The plan is to create entertainment facilities (i.e. aquarium, waterfront commercial centre), a convention centre, as well as hubs which will stimulate research & education, innovation, culture (i.e. museum) and healthcare (i.e. rehabilitation centre). Due to its privileged location, developers aspire to turn Hellinikon into an attraction for different industries such as shipping, luxury tourism and hotels that would be interested in investing or simply housing their headquarters in the complex.

Hellinikon Project: Watch the video