Hellenikon Development Construction Start Pushed Back to 2019

June 17, 2018

ATHENS – Delayed for years, development of the $8 billion project to turn the abandoned Hellenikon International Airport into a high-end area of luxury shops, residences, a marino and casino and some park space could finally begin early in 2019.

That was the hope of the developers, a consortium led by Greece’s Lambda, which built the unlawful Athens Mall, and including the giant Chinese company Fosun and a partner from Abu Dhabi.

Prime Minister and Radical Left SYRIZA leader pushed the plan after reneging on promises to stop privatizations but has run into a buzzsaw of opposition from hard-core elements in his party who don’t want any foreign companies in Greece nor any development.

The country’s notorious red tape bureaucracy, challenges from environmentalists and other activists held it up after the original plans to create Europe’s biggest park were set aside in favor of commercial development because of the country’s long-running economic crisis.

Lamda Development’s top executives spoke at a shareholders’ meeting in Athens where they answered a barrage of questions about the casino and the role of foreign investors, but said it’s on track to begin early next year, the business newspaper Naftemporiki said.

Interest has been showed by Las Vegas’ Caesars so far but only in theory, the paper said, which earlier reported that the Hellenic Gaming Commission will commission an international tender for the casino as soon as Aug. 31.

It will face stiff competition from a major new casino being planned on Cyprus by a Hong Kong company.


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Mission…to Alonnisos, a TNH Documentary

O oceanic you sing and sail White on your body and yellow on your chimeneas For you're tired of the filthy waters of the harbors You who loved the distant Sporades You who lifted the tallest flags You who sail clear through the most dangerous caves Hail to you who let yourself be charmed by the sirens Hail to you for never having been afraid of the Symplegades (Andreas Empeirikos)   What traveler has not been fascinated by the Greek islands, drawn by the Sirens’ song of a traveler’s dreams? TNH and our video show ‘Mission’ marked the change of the season by transporting viewers into the heart of summer.

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