Under the deal, Hellenikon is to be turned into one of Europe’s largest coastal resorts, filled with luxury hotels and apartments, as well as shopping malls, a park and a casino and entertainment complex.Įfforts, however, to kick-start the project have repeatedly stalled amid political opposition and various bureaucratic obstacles.
In 2014, a consortium of investors signed a €915 million ($1 billion) development deal, a key part of a post-bailout agreement between debt-saddled Greece and its international lenders. The airport still contains abandoned airplanes belonging to defunct carrier Olympic Airways.
