Contract Paves Way for Construction of Panathinaikos Stadium in Athens

The signing ceremony. Photo source: Municipality of Athens.

The finalization of a contract between the Municipality of Athens and a consortium of companies paves the way for the construction of a 38,500-seat football stadium for Athens’ historic Panathinaikos sports club in the suburb of Votanikos.

Athens Mayor Kostas Bakoyannis and representatives from TERNA SA, AKTOR and Metka signed the contract last week in the presence of Development & Investments Minister Adonis Georgiadis and Panathinaikos President Giannis Alafouzos. The mayor said it was a “historic day” for the team and the city.

Photorealistic view of the future Panathinaikos Stadium in Votanikos.

Construction of the highly anticipated stadium, which will have views to the Acropolis, will begin immediately after the completion of relevant studies. The municipality said the stadium would be ready for use in 2026.

Budgeted at 123 million euros to be financed through mixed national, European and private resources, the football stadium will include an arena with 1,300 seats and suites, 325 underground parking spaces, and seven shops.

Athens Mayor Kostas Bakoyannis with Development & Investments Minister Adonis Georgiadis and Panathinaikos President Giannis Alafouzos. Photo source: Municipality of Athens.

The construction of the football stadium is part of a long-delayed urban regeneration project for the Votanikos area that also includes a 12,500-seat basketball arena, a volleyball stadium (1,500), an Olympic-size swimming pool, municipal sports, culture and recreational facilities and green space.

Phase 2 of the project will focus on the creation of a park, a sports museum, a café and an underground parking area on Alexandras Avenue in Ambelokipi, central Athens, where the former Panathinaikos stadium known as “Leoforos” was built in 1922.