As articulated during the presentation of the plans for the redevelopment of the park in Faliraki Bay, "By order of the Prime Minister, and following the favorable recommendation of the Ministry of Finance and the relevant ministries, our proposal has been approved. The expansion and integration of the surrounding area into the park, which includes the Tae Kwon Do area and Nero Square, along with its definitive concession by the Hellenic Public Properties Company (ETAD) to the Region of Attica for the next 40 years, are progressing as planned. This process is expected to be completed by March 2025."
The property referred to as "Zone III" within the Faliro Olympic Complex, for which ETAD had previously announced a tender that was ultimately unsuccessful, comprises a land area of 141,586.90 sqm. This includes the Tae Kwon Do indoor stadium, Water Square, and Glass Building, as well as a beach area of 6,823.43 sqm and a shoreline area of 4,180.85 sqm. Additionally, it encompasses the right to use the marine area in front of the plot.
The planned metropolitan park will be named "Aenaon." The design includes the construction of 30,930 sqm of underground parking, 3,957.30 sqm of new buildings, and 865.30 sqm of auxiliary underground spaces, alongside renovations and enhancements to the existing structures.
It is worth noting that the European Commission has recently approved an initial allocation of €93 million from the Cohesion Fund to support the regeneration efforts. This funding essentially paves the way for the implementation of the project, which has a total budget of €254.96 million.
The completion of the park redevelopment is scheduled for the end of 2028.
A collaborative model with the private sector is being developed for the park's maintenance and operation. This will involve the engagement of a major service provider (global operator), who will also manage the exploitation of the park's approved commercial facilities for a defined period.
