Investments increase 8.6% despite the pandemic, says minister

The Elliniko development project will change Greece’s image and create a new urban hub within the capital city, Development & Investments Minister Adonis Georgiadis told The Economist’s 25th Roundtable with the Government of Greece in Athens on Friday.

The minister noted that some 10,000 jobs will be created during the construction phase and another 70,000 when the residential development is in full operation. 

“It is a green project that meets all environmental protection standards,” he said. 

“It will change the lives of the area’s inhabitants and neighboring municipalities will also benefit because land value will increase. We sold the project for 1 billion euros and this money will go back to all Greek citizens,” the minister asserted. 

Getting the project off the ground took three different governments, Georgiadis pointed out. 

On the country’s economy, the minister said that investments went up by 8.6% in the first quarter of the year, despite the pandemic.