Athens Riviera Project prepares for second phase of construction
With the first phase almost completed, authorities are now on the lookout for investors to continue to good work
- February 11, 2020 21:30
- Anton Stoyanov
Back in 2019, authorities of the Greek Attica Region unveiled their ambitious plan for completely transforming Faliro Bay. Located just a few kilometres away from the capital of Athens, on the Attica coastline, the location was chosen for the construction of a large-scale project called the Athens Riviera – a vast luxury complex.
The end goal is for the new venue to be able to support hordes of tourists at any given time, and to attract them throughout the year, not only during the summer season. Upon completion, the Athens Riviera will boast not only some of Greece’s finest beaches but also apartments, villas, hotels, marinas, amusement parks, restaurants and casinos. It is expected that it will attract some 1 million additional tourists to the country and will create over 10,000 permanent jobs on its premises – without even counting the 40,000 construction jobs required for its development.
Beginning phase two
Recently, authorities announced that the first phase of construction is nearing completion. Soon the 2nd one will begin and they are on the lookout for potential investors and contractors.
Currently, Attica region is planning on applying for a loan for the development of the area from the European Investment Bank. The EU bank is a reliable partner that is eager to provide low-interest loans for massive infrastructure project as long as they fit into its climate objectives and fulfil its requirements.
Throughout the 2nd phase, a large 220-acre park will be created within the Athens Riviera, along with 3 separate parking lots. That also entails the planting of over 3,500 trees in the area as well as other types of vegetation.
The implementation of the 2nd phase of the Athens Riviera project is expected to take around 30 months after the signing of a contract between the region and a construction company.
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