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
Sources:
Greek Travel Pages. 20 November 2020
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