Municipality of Athens: “New page in the history of Athens and the historical team of Panathinaikos”

After today’s signatures between the Municipality of Athens and the consortium for the stadium in Botanikos, everyone is counting down. In 36 months, Panathinaikos will have the new, state-of-the-art stadium and the Municipality gave the details of the project with a relevant press release.

The press release of the Municipality of Athens



The signatures for the construction of the Panathinaikos arena “fell” today

The Mayor of Athens K. Bakoyiannis signed the contract with the joint venture TERNA SA. – AKTOR A.T.E. – METKA ATE

K. Bakoyannis: Today’s signatures are “heavy” like the history of Athens and the history of Panathinaikos

A new page in the history of Athens and the historical team of Panathinaikos was opened tonight after the signing of the contract, in the city hall, between the Municipality of Athens and the contracting consortium of TERNA SA companies. – AKTOR A.T.E. – METKA ATE, which will build the state-of-the-art stadium in Botaniko.

The contract was signed by the Mayor of Athens, Kostas Bakoyannis, and the representatives of the joint venture, TERNA SA. of AKTOR A.T.E. and METKA ATE.

In his statement, K. Bakoyannis said: “Today’s signings change the game forever. On and off the field. They have green ink and are heavy, like the history of Athens and Panathinaikos. This feat could not have been achieved with another government. We are proud as Athenians and as sports fans.”

The contract amounting to €119,999,832.38 including VAT. 24% concerns the study and construction of the new state-of-the-art Panathinaikos stadium and came a few hours after the official approval by the special committee of the European Union (DG Comp) for the €115 million fund from the Public Investment Program (PIP) for the sports facilities.

The total deadline for the execution of the project is set at thirty-six (36) months from the day of signing the contract and reinforces the commitment of all parties that the stadium will be ready in 2026.

The Municipality of Athens, as the contracting authority, tendered through an open international tender, in accordance with the provisions of Law 4412/2016, at the same time the study and construction of the stadium, through which the joint venture TERNA SA was selected. – AKTOR A.T.E. – METKA ATE.

Present at the signing tonight were the Minister of Development and Investments, Adonis Georgiadis, the President of PAE Panathinaikos, Yiannis Alafouzos and the President of Panathinaikos, Panagiotis Malakates.

The financing of the project



The construction budget for the new stadium amounts to 123 million euros (including VAT). Funding for construction comes from the Public Investment Program (PIP) and the Recovery and Resilience Fund (RRF).

This feat could not have been achieved with another government

To reach today’s milestone for the creation of the new Panathinaikos stadium required more than two years of systematic work, detailed studies and extensive discussions with the parties involved, the implementing bodies, the four co-competent ministries and the European Commission. The teamwork, as well as the exceptional degree of cooperation of all involved, was particularly highlighted by the Mayor of Athens, Kostas Bakoyannis.

“Thank you to all our faction, the vice-mayors and the municipal councilors and especially the General Secretary Alexandros Tsiatsiamis and his team, who collaborated for many months with excellent scientists and technocrats, environmental engineers, economists, transport experts and lawyers. Hundreds of approvals from ministries, collective bodies, councils and committees were required. I want to personally thank Ministers Giorgos Gerapetritis, Theodoros Skylakakis, Kostas Skrekas and Adonis Georgiadis, who, I have to say publicly, “won the bet”! But first of all, I would like to express a big thank you to the Prime Minister for the essential and undivided support of this entire effort.”

The unique arena with a view of the Acropolis – The project in numbers



The new football stadium will have a capacity of 38,500 seats (up to 40,000), will be of international FIFA & UEFA standards and 4 stars and with the unique privilege of a view of the Acropolis.

The arena will include 1,300 seats in suites, 325 underground parking spaces and seven shops, while the National team – men and women – of our country will be able to compete in its facilities.

The new stadium – a catalyst for the overall development of Botanicus



Driven by the new state-of-the-art Panathinaikos arena, Votanikos, this old industrial area of ​​Athens – which for years remained its “backyard” – will be upgraded in terms of urban planning, will acquire modern infrastructure (opening of new roads, expansion of existing ones, etc.) d.) common areas (sidewalks, islands, tree plantings) and green spaces.

The second phase of the Double Redevelopment: The green space on Alexandras Avenue



After the completion and delivery of the new stadium to the Panathinaikos family, the implementation of the second phase of the Double Redevelopment will begin, which foresees the creation of a large urban park on Alexandras Avenue, as defined by the relevant Presidential Decree. There will also be an underground parking lot that the city needs so much, the Panathinaikos Museum, as well as a small mortuary inside the Museum area.