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Greece aims for construction at old Athens airport to begin by year-end
June 2, 2017 / 11:26 AM / 6 months ago

Greece aims for construction at old Athens airport to begin by year-end

ATHENS, June 2 (Reuters) - Greece aims for construction works at the former Athens airport complex of Hellenikon, a prime seaside estate, to start within the next six months, State Minister Alekos Flabouraris said on Friday.

Under its international bailout, Athens has clinched a deal for the long-term lease of a 1,530-acre plot to a Lamda-led consortium backed by China’s conglomerate Fosun and Abu-Dhabi-based developer Eagle Hills.

The consortium plans to spend 8 billion euros ($8.97 billion) to turn the sprawling wasteland into one of Europe’s biggest coastal resorts.

It hoped to begin cleaning out the site and begin excavation works by June but the project has been delayed due to various bureaucratic hurdles. ($1 = 0.8919 euros) (Reporting by Angeliki Koutantou; Editing by Karolina Tagaris)

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