-| On the road to Grecovery – The Hellinikon Mega Project: A new era for Greece’s economy and real market has just begun |-
From the second semester of 2016 is expected to begin the sustainable economic growth in Greece after more than eight (8) consecutive years of unprecedented economic crisis and deep recession. More and more investors and funds from all over the world bet Greece will be on the road to economic recovery (from Greek economic crisis to Grecovery) sooner than it was expected. Particularly, Greece’s GDP growth rate is expected to be positive from the 2nd semester of the current year and the said growth will escalate at a much more rapid pace from 2017 onwards.
Therefore, Greece can be treated as an emerging economy and market. As a consequence, new investments opportunities will arise in the coming years from several promising economic sectors of the Greek market like Tourism Sector, Real Estate, Greek RES Market (Large-scale Wind and PV projects), Maritime Sector, New Technologies and Research, Capital Market (via Athens Stock Exchange/ASE), Agricultural Sector and Logistics.
Greece’s economy key facts:
GDP (2016): $195 bil. – Market size (population, 2011): 10.8 mil.
Given the above analysis, the master plan for the implementation of the Hellinikon mega project is a strong message to investors around the world that Greece’s economy will return to positive growth rates. The Hellinikon project is the creation of a new face for the location of the former International Airport in coastal Athens (Hellinikon site). It will change the view of the coastal area, bringing thousands of work positions and millions of tourists in Attica region.
The Hellinikon project is the largest urban regeneration/real estate investment project throughout Europe and worldwide, as the property is more than three times larger than the size of Monaco, more than two times the size of Hyde Park in London and almost two times the size of central part in New York. In particular, the development and implementation of the said project will be an important evidence that Greece can attract and implement highly ambitious investment plans.
Once completed, the Hellinikon project is expected to have a very positive impact on Greek economy and especially in tourism sector with an additional increase of 1,000,000 tourists per annum.
The basic design of the project includes the upgrading of the beach, residential developments, superregional and local commerce, hotel facilities and recreational areas, utilization of the Olympic facilities and the creation of new sports facilities, a new golf course, venues that highlight Greece’s cultural heritage, educational facilities and research centers etc.
Moreover, within the project’s framework the investors undertake the creation, financing and maintenance of the largest Greek — and one of the largest in the world — Metropolitan Green and Recreational Park, which jointly with the public use green areas of the site will cover and aggregate area of 2,600,000 sq.m. or 42 percent of the entire site. They will undertake the financing and construction of all transport infrastructure, public facilities and utilities networks, all necessary port works, the creation of 50 km of sidewalks and bicycle paths which will create the necessary connection with the existing and the new rail networks, the underground routing of parts of Posidonos Av., the renovation and operation of all listed buildings within the site, as well as the creation of a 1 kilometer beach with free-access to the public. It is mentioned that “Varis-Koropiou” Avenue will connect the “Hellinikon Mega Project” and the modern Athens International Airport “Eleftherios Venizelos”.
This is an important step towards the direction of investment, employment, exploitation of new opportunities and of attracting international capital in the country.
The project will have multiple positive effects on other sectors and activities, it will create new expertise and a very large area will gain immense utility value for millions of Greek and foreign citizens. The contribution to the country’s GDP is expected to reach 2%, securing significant income for the Greek State and social security, which in the span of 25 years, is expected to reach cumulatively 10 billion euros.
Most importantly, this investment due to its size and qualitative characteristics, will install an important development axis in the economy of the country, and especially that of the Attica basin, which will become a reference point for many decades.
According to the competent company Lamda development, the development on Hellinikon is expected to create 10,000 direct jobs and boost the construction and real estate sectors, which have been severely struck during the years of the prolonged economic crisis. At full development the Hellinikon project is expected to employ approximately 70,000 people.
-|| The Hellinikon Mega Project is going to radically upgrade Greece’s position in the international business/investment environment ||-
Hellinikon Mega Project
A new era for Greece’s economy – A new living standard for Athens wider metropolitan area
The new face of the former International Airport of Athens will soon be a fact. In the beginning of 2017 will start the construction of the project. This is definitively the most inspired urban development project ever designed in Athens wider metropolitan area, Greece and worldwide.
Posted on June 12, 2016, in Greek Economy, Investment opportunities in Greece and tagged Athens metropolitan area, Christos Ghikas Greece, Economic turnaround story of Greece, Grecovery, greece, Greece's position in the international business environment, Hellinikon Mega Project Athens, Hellinikon Project Greece, Koropi city, Sustainable Economic Growth in Greece, The Hellinikon Mega Project is going to radically upgrade Greece's position in the international business/investment environment, the largest urban regeneration investment project throughout Europe and worldwide, Tourists in Greece, Varis-Koropiou Avenue. Bookmark the permalink. 1 Comment.