Municipality of Athens announces a € 1.5 mln programme for Lycabettus Hill Renewal

The Municipality of Athens has announced a plan to renovate and upgrade the area of Lykabettus Hill, a popular hill in the centre of Athens bordering Kolonaki and other neighbourhoods. According to Greek Travel Pages, the € 1.5 mln programme aims to create an urban oasis safe for visitors and residents in the area of Athens’ Lycabettus Hill.

Athens, Greece: 29 June 2021

The renovation works will be funded by the European Investment Bank and include:

The reconstruction and reopening of the Lycabettus Theater;
Maintenance of the Hill’s trails and footpaths;
Anti-flooding and anti-corrosion works;
Lighting and road upgrades with the use of sustainable materials.

The renovation works are expected to be completed in 18 months.

Kostas Bakoyannis, the Mayor of Athens, stated that:

“After years of indifference and neglect.. We are working to reclaim lost time..passing from theory to action. Our goal is to give the citizens of Athens, but also all its visitors, a living and recreational space.”

According to Greek Travel Pages, an additional tender would be announced for the historic open-air theater budgeted at € 1.98 mln to include structural reinforcements, seating replacement, and power and lighting installation.

Navigator Consulting supports tourism investments in Greece and has extensive experience in due diligence on tourism and property investments in Greece.

Sources:

Lycabettus Hill ‘Green’ Overhaul Underway

Greek Travel Pages. 23 July 2021

York Capital invests € 100 million in Angsana Corfu Resort

NavInvest Greece. 13 June 2021

Re-development of the Gournes Air Base, Crete Announced

NavInvest Greece. 12 May 2021

4* Hotel in Glyfada Athens for Sale

NavInvest Greece. 29 April 2021

Asteria Hotel Renovation Moves Forward

NavInvest Greece. 12 March 2021

Brown Hotels acquires three hotels in Loutraki, Greece