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The funding decision was signed with 365.4 million euros one of the most emblematic works of Attica, the Redevelopment of Falirikos Ormos.

In the context of the directions of the Minister of Development & Investments, Mr. Adoni Georgiadis, the inclusion of the Falirikos Bay Redevelopment project, with the Region being the beneficiary, was signed today Monday by the Special Secretary for the Management of ERDF Programs and the Board of Directors of the Ministry of Development & Investments, Mr. Giorgos Zervos Attica, in the Operational Program of the Ministry: “Transport Infrastructures, Environment and Sustainable Development”.

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The budget of this complex project amounts to 365.4 million euros and its financing is carried out in 2 phases, with the first phase having been implemented within the Program Period of the NSRF 2014-2020 (with a funding budget of 110.44 million . euros) and the second phase in the Programming Period 2021-2027 with the remaining funding.

This innovative and emblematic project concerns the complete regeneration of the Faliriko Front and includes the following projects:

  • Creation of a Metropolitan Park
  • Transverse displacement of Poseidon Avenue
  • Projects of environmental installations, landscaping and planting on an area of ​​536 acres
  • New building projects with a surface area of ​​3,957.30 sq.m
  • Underground surface parking areas 30,930 sq.m
  • Footbridges
  • Port projects such as piers, islets and beach formations that complement the entire regeneration on the sea front
  • Other Supporting Projects at the Sea and Metropolitan Park
  • Hydraulic – Flood Protection Works

The comprehensive regeneration of Faleric Front aims to:

  • The environmental upgrading of the area and the creation of a Metropolitan Park with the focus on nature, culture, exercise and entertainment.
  • The restoration of the communication of the urban fabric with the sea front, with the functional rearrangement of the technical infrastructures and especially the transportation projects of the coastal zone.
  • The effective anti-flood protection of the immediate and wider area.
  • The functional and aesthetic coherence of the coastal zone from the area of ​​Piraeus and the Peace and Friendship Stadium to the Faliro Delta, utilizing and upgrading the already implemented Olympic Projects.
  • Ensuring the viability of the Metropolitan Park.

The Minister of Development & Investments, Mr. Adonis Georgiades stated:

“The largest regeneration project of Attica implemented through the NSRF was today included in the Operational Program: “Transport Infrastructures, Environment and Sustainable Development”. This is a project that will change the daily life of all Athenian citizens and will offer a real quality of life to millions of Greeks. I am proud of the Ministry of Development & Investment and its contribution to this project. Congratulations to the Region of Attica and George Patoulis”.

The Deputy Minister of Development & Investments, Yannis Tsakiris pointed out:

“With coordinated actions, we managed to secure the full financing of the first and second phases of the project with European funds. The regeneration of the Falirikos bay is the largest regeneration project in Attica and one of the most emblematic of the country, implemented through the NSRF and which is expected to contribute to the improvement of everyday life and the quality of life of the Athenians. With this specific project, we recognize the importance of supporting investments that not only have a profitable and reliable business plan, but at the same time a strong development sign and benefits for the local community, and it is confirmed that the NSRF is for everyone.”

The Regional Governor of Attica, George Patoulis stated:

“Our commitments are being implemented. We worked in a systematic way and succeeded in financing one of the country’s most emblematic projects with 365.4 million euros. I would like to warmly thank the Minister of Development & Investments, A. Georgiadis, the Deputy Minister, G. Tsakiris and the Special Secretary for the Management of ERDF Programs, G. Zervos, and the services of the Ministry for our excellent cooperation, the fruit of which is this result. I also thank our Technical Services and our Administrative Authority. With today’s signature, the funding for the completion of the project, a flagship project for the European Commission which will be built according to the New European Bauhaus (NEB) principles of Sustainability, Aesthetics and Inclusion, is now secured without any doubt. This particular project is the largest metropolitan park to be built in the European Union.”