Report: Helleniko project worth 7.2 bln€ in overall investment alone

The Athens-based Foundation for Economic and Industrial Reseaerch (IOBE) on Friday released a report on the economic impact of the massive Helleniko (Hellenikon) property development project in coastal SE Athens, calculating the overall investment plan over a 25-year period – excluding the upfront payment installments to the state – at 7.2 billion euros.

The report coincides with the submission of a concession contract in Parliament for ratification, and in the wake of this week’s press reports claiming that at least one government ministry, the culture ministry, attempted to insert more bureaucratic hurdles to the memorandum-mandated privatization.

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