17 Jul 2026
Compensation for Nea Elvetia terminal land expropriation doubles
- RE+D Magazine
The Board of Directors of the Green Fund has approved an increase in funding for the expropriation of land at the Thessaloniki Metro's Nea Elvetia terminal station.
The Green Fund’s Board of Directors has unanimously approved an increase in funding of up to €1,135,374.50 for the expropriation of land within Common Area (CA) 131 at the Thessaloniki Metro’s Nea Elvetia terminal station.
The privately owned site was expropriated to create the public space required to serve the transport interchange at the Nea Elvetia terminal station.
The land had already been designated as public open space under the city’s urban development plan. The Municipality of Thessaloniki was responsible for carrying out the expropriation process, with funding provided by the Green Fund to compensate the property owners.
The increase in funding follows the final determination of compensation under Decision No. 643/2026 of the Single-Member Court of Appeal of Thessaloniki, which established the compensation rate for the approximately 1,746.73-square-metre property.
The new decision supplements Decision 204.14.1/2021 of the Green Fund’s Board of Directors, under which the Municipality of Thessaloniki had previously been awarded €558,953.60 to finance the same expropriation.