• Ilma Danielienė

Votanikos Urban Regeneration Project to invest € 163 mln

Updated: Nov 25, 2020

The Votanikos Urban Regeneration Project is a plan to relocate the Panathinaikos Football Stadium from its current location on Alexandras Avenue to Votanikos. This involves construction of a multi-use sports complex in Votanikos by a public-private cooperation involving the Athens Municipality, Panathinaikos FC, and the Eleonas Investment entity. The current football stadium on Alexandras avenue will be transformed into an urban park. The total investment is forecast at € 163.5 mln.


Athens, Greece: 20 November 2020



The Urban Regeneration Project includes the construction of:


  • A 40,000 seat football stadium

  • A 12,000 seat basketball arena

  • A volleyball stadium

  • An Olympic-size swimming pool

  • Municipal sports, culture and recreational facilities

  • Green space.


The Project will replace the former Panathinaikos stadium, known as “Leoforos Stadium” built in 1922 on Alexandras Avenue. It is the oldest active football stadium in Greece. According to the Project, the Leoforos Stadium will be turned into park.


According to the majority shareholder Giannis Alafouzos,


Today is a historic moment for Panathinaikos. A decades-long dream for the sports club to acquire a home is being materialized. The sport club, the heart of the group, will finally acquire the facilities that suit its history as the most diverse club in Greece.”


It is expected the Urban Regeneration Project to contribute to Athens’ and the Greek economy.


Navigator Consulting supports investments in Cyprus and Greece, and has extensive experience in technical, commercial and financial due diligence for investments in different sectors.


For further information, please contact:


Philip Ammerman

Managing Director

info@navigator-consulting.com


Sources:


Athens Urban Regeneration Project to Start with Panathinaikos Stadium

Greek Travel Pages. 20 November 2020


Related articles:


Coronavirus Update: November 2020

Navigator Consulting. 3 November 2020


Microsoft plans to invest $ 1 bln to build 3 Data Centers in Greece

Navigator Consulting. 5 October 2020


DBRS Morningstar outlines COVID-19 Economic Risks to Tourism in Greece and Cyprus

Navigator Consulting. 14 September 2020






11 views0 comments