of Eleni Botas
The project of Elliniko enters the start phase with the start of the first infrastructure projects with AVAX as the contractor, within March.
The works will continue until September 2025.
As stated a few days ago by the CEO of Lamda Development Athanassiou Street, “within the next two months another corresponding tender is expected to be announced, while by the summer of 2023 the other tenders will have been issued”.
The infrastructure projects of Phase A will be delivered gradually and include, among other things, the provision of an extensive road network. The road network includes the undergrounding and the uneven junction of Poseidonos Avenue, as well as the construction of utility networks to serve all the planned Buildings.
Among them are the buildings of the residential and commercial developments and the sports complex, the Metropolitan Park and the other developments foreseen during the First Phase of the project.
By the end of March, the contractor who will act as a consultant to the architectural office that will take over the Marina Tower, the skyscraper of Elliniko, which will have 45 floors and a height of 200 meters, is expected to be announced.
It is noted that Lamda Development has made pre-sale agreements for all the apartments, with the exception of the last three floors that have not yet been put up for sale, while most of the buyers are Greeks.
The prices of the houses on the first floors of the Marina Tower start from 7,500 euros per square meter and climb to 11,500 euros per square meter on the higher floors or even 14,000 euros per square meter depending on the location and the view of the property and reaches up to 25,000 to 26,000 euros per square meter in the penthouse.
Also from the luxury villas on the seafront, according to the data provided by the company’s management, have been pre-sold all 27 villas with an average price per square meter of 14.5 to 17 thousand per square meter.
Finally, a matter of a few days is the completion of the procedures by the Gaming Supervision and Control Committee (GSC) in order to proceed with the signing of the concession agreement for the Casino license in Elliniko with the Greek State.
According to competent sources, formal procedures have remained both on the part of the tender committee and on the part of the EEEP.
Then the ratification of the contract by the parliament and the signatures with the Ministry of Finance will proceed.
Once this process is completed, the change of shareholder structure of Athens IRC will proceed with the entry of HardRock.
Then, the issuance of the required licenses for the hotel with casino and conference center will begin, which will be developed in Elliniko by the contractor consortium.
Source: Capital

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