ATHENS (Reuters) – After years of delay, an 8 billion euro ($ 9.2 billion) project to turn Athens’ old airport into a luxury resort is set to begin construction in February, a announced Tuesday its promoter.

Lamda Development won a tender in 2014 to transform the 1,500-acre (600-hectare) site of the former Hellenikon Airport, where disused runways, terminals and former Olympic venues have been abandoned for nearly two decades. decades.

But Greece’s largest urban redevelopment plan has been repeatedly held back by bureaucracy and opposition, and it was only this summer that the company acquired the rights to begin work on the ship’s project. about three times the size of Monaco.

“Our goal is to start construction work in four months, in February,” said Dimitris Zontanos, Director of Planning and Construction.

After demolishing old buildings, Lamda will begin construction of a 200-meter-high beachfront apartment building and expansion of an adjacent marina, he said.

Construction of an entertainment complex and cluster of beach villas is expected to begin in 2023, with parks, lakes, gardens and open spaces for public activities covering over 70% of the sprawling site, a Lamda said.

The company said it has secured presales contracts worth nearly € 700 million for residences and beach villas.

The developer also plans to build two luxury hotels for 300 million euros and has signed agreements for the construction of a retail park and offices in Hellenikon.

The project is expected to create over 80,000 jobs and attract over one million tourists per year.

(Reporting by Angeliki Koutantou; Editing by Mark Potter)

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