The Public Real Estate Company (ETAD), granted Tae Kwon Do Faliro, to Atticafor regeneration and exploitation with the contract lasting 40 years.
Specifically, the ERAD grants a total area of 153,207.51 sqm for regeneration and exploitation in the Attica Region, which includes the Tae Kwon Do Stadium, the water square, coastal sections, the seaside, the maritime front and the existing facilities, contributing to the creation of a new,
The signing of the concession contract of the Faliro Olympic Stadium (TAE KWON DO) was carried out by Iro Hatzigeorgiou’s CEO and Attica Regional Governor Nikos Chardalias, in the presence of the Minister of Economics
It is a large -scale intervention with a strong environmental, social and cultural character that is expected to reshape the Attica urban fabric and upgrade the connection of the locals with the public space. As part of the design, it is envisaged to create a multifunctional public space with green, sports and cultural infrastructure, open and accessible to all citizens.
The concession, approved by the Court of Auditors, lasts 40 years, with entry into force on 1 January 2026. During the two-year two years 2026-2027, the Attica Region undertakes the preparation of the required studies and will ensure funding for the implementation of the project, which includes the project, including the project, including the project. Conference and Concert Center, while the ERDA maintains the cost of operating, maintaining and operating the property. From 1/1/2028, when the space will be delivered, the Attica Region will be fully managed.
The financial framework of the contract includes an annual exchange of EUR 1 million to the ERDF, as well as a provision for its participation in future net revenue. In addition, ERAD will also participate in the Management Body, which demonstrates the development and reciprocal nature of the concession
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In his inaugural speech, the Minister of National Economy and Finance said: “The message we want to send today is that public property is not inert stock, nor can it remain trapped in bureaucracy. It is a dynamic capital, which belongs to all citizens and must produce goodwill for society. The Hypermalis currently manages assets of € 11.7 billion in assets, being one of the key public property utilization bodies in Greece.
The ERDA is a subsidiary of the Hypertension and is the largest public real estate manager in Greece. Our mission is to turn this property into a tool of sustainable growth and employment. We will not leave any opportunity unused. With boldness, plan and complete transparency, we will disturb the waters and prove that the State can work effectively, for the benefit of all. ” Concluding his speech, Mr. Pierrakakis said: “Tae Kwon do will no longer be a memory. It will be a reference point for the new era of public property in Greece. It will be proof that when there is plan, cooperation and vision, even abandoned they can be reborn. This is the Greece we are building: a Greece that does not abandon but exploits. That does not wait, but plans. That does not forget the past but invests in the future. “
The CEO of ETAD said: “Today we are turning a page in the story of a flagship point of our city, Tae Kwon Do and Water Square. With the signing of the concession contract, a new era for the property begins, which is planned to become a modern, functional and open conference center, an infrastructure that Athens and the wider area needs.
The contract we are signing today ensures a clear and viable operation framework for the next 40 years, with a substantial financial benefit for the ERAD, but also with strong forecasts for the gradual upgrading and modernization of facilities. ” Elsewhere in her speech, the ERAD chief emphasized that “the concession ensures the necessary funding of a project that in other case could not be implemented due to high CAPEX, but also the overall design of the entire Faliro Front with the interconnection between the new uses that are being developed. In addition, it will operate under a single management body that will guarantee its sustainability and continuous evolution. “
Ms Hatzigeorgiou underlined the company’s new strategy to develop important real estate and infrastructure through the partnership with institutional bodies and local communities. “We focus on the optimal utilization of the assets we manage, not one -dimensional through a simple competition and a sterile financial model. We see each big property individually. We evaluate how its exploitation can substantially help, how through synergies it can be a multiplier value for the benefit of society, growth and financial performance, “he said.
For his part, the Attica Regional Governor, presenting the plan of redevelopment and development of the Faliro Bay and the creation of the new Metropolitan Park “Aenon” on an area of 741 acres by the sea to be handed over to citizens in 2028, noted: Vertically not only the Athenian Riviera, but as a whole of Attica. A project that will reunite the urban fabric of Attica with the sea after six decades. “
The Regional Governor was particularly concerned with the “immediate and substantial intervention of the Prime Minister, Kyriakos Mitsotakis”, as well as in the employed efforts of the Regional Authority to secure European funding for the new Metropolitan Park, after years of “unjustified delays”.
Referring to the inclusion of Tae Kwon Do’s ETAD installation, he emphasized that it completed the region’s strategic objective of regeneration of the coastal front. “With the signing of the Convention, a flagship athletic landmark that has remained unused over the years, is under the responsibility of Metropolitan Government, with the aim of living a living for the benefit of culture and society,” he said.
And he concluded: “Its reconstruction provides for the complete conversion of the existing establishment into a state -of -the -art exhibition, conference and concert center, which can host high quality events, both in the field of culture and in the field of business activities and tourism. An infrastructure that we are planning today is missing from Attica, depriving it of a valuable competitive advantage it needs to further enhance its position in the above areas. “