Fueling economic growth and productivity
The revitalization of Hellinikon is one of the biggest real estate development projects of its kind, and provides a unique opportunity to positively impact the Greek economy through high value-add jobs and investments.
The approximate € 8 bn. investment is expected to generate 75.000 new jobs during maturity, and contribute 2.4% to Greece’s GDP by completion date, while over the same timeframe pay over € 14 bn. in taxes to the Greek State.
The Hellinikon Project is an important step towards rebuilding economic growth and productivity in Greece. According to a study by the Foundation for Economic and Industrial Research (IOBE), 10.000 new jobs will be created during the construction phase and 75.000 new jobs will be added during Hellinikon’s operation phase. Furthermore, the Project’s expected contribution to the country’s GDP is approximately 2.4%, an appreciable figure, to be derived from all Greek business sectors.
Tax revenues, derived from income, corporate, insurance fees, property taxes and VAT, for the Greek State during the 25-year investment period are projected to exceed € 14 billion.
The implementation of infrastructure projects (speculative budget of € 1.5 billion) and the maintenance and safety of the Metropolitan Park are the responcibility of the investor throughout the term of the Agreement.
Overall, the development works of the Hellinikon Project, as a whole, will have a positive outcome on the private real estate sector, as well as bring increased revenue opportunities to local businesses.
