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Construction is planned to start in the second quarter of 2023 and be completed in the beginning of 2026.

The first bid price for the specific plot is €2,633,206.40 and the auction, which will take place via E-auction.

Moody's expects that Athens will also benefit from reduced systemic risk, as captured by the change in outlook on Greece's rating of Ba3 to positive from stable.

The development has a total budget of €1M and is co-financed by the Region of Attica and the Municipality of Pallini.