Hellenic Public Properties Announces Tender for Faliro Sports Complex

Part of the Faliro Olympic Zone III on lease. Photo source: ETAD.

The Hellenic Public Properties Company (ETAD) SA recently launched a tender for the long-term lease of a part of the Faliro Olympic Zone III on Athens’ southern coast.

Located in Faliro along the Athens Riviera, near the Stavros Niarchos Foundation Cultural Center (SNFCC), the property is associated with the successful organization of the 2004 Olympic Games. Following the Games it was established as a cultural, conference and exhibition space.

It includes the Faliro Taekwondo venue, the Water Square and the Glass building, among other areas, and will be offered for lease for a period of 40 years, with the possibility of an extension for a further 10 years.

Tae Kwon Do Olympic facility, Palaio Faliro. Photo source: ETAD

The tender is open to all interested parties and the deadline for bids submission is Friday, February 16, 2024. The starting price for the annual leasing is set at 2.4 million euros with a one-off payment of 2 million euros and a minimum investment obligation of 22 million.

The long-term lease of the property will be developed, used and operated in accordance with the permitted uses as specified in the Faliriko Ormos Redevelopment Plan (Government Gazette 443AP/2013).

In addition to the Faliro Olympic property, ETAD has also launched a series of tenders for the development of the Xenia hotels in its portfolio throughout Greece, in accordance with the company’s 2023 development plan.

The Xenia hotels are a collection of historic hotels that were built in the 1950s and 1960s to promote tourism in Greece. ETAD acquired a portfolio of Xenia hotels in 2018 and is now investing in their redevelopment to create modern and sustainable hotels that will appeal to both domestic and international tourists.

Further information on competitions can be found on website www.e-publicrealestate.gr.