The presidential decree giving the go-ahead to the development of Hellinikon south of Athens was signed by the relevant ministers on Friday, in the presence of Prime Minister Alexis Tsipras, ANA reports.
The decree will need to be reviewed by the Council of State “within 2017, exactly as foreseen in our original plan,” Tsipras said in a tweet announcing the signing.
The 8-billion-euro investment will include residential communities, hotels, shopping centers, family entertainment venues, museums and cultural venues, health and wellness centers, significant space for sports and recreation. It will also include a modern business park and will regenerate the entire coastal front, according to Lamda, creating 10,000 permanent jobs during the construction period and 75,000 jobs during its maturity.
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