AEP Eleona and the City of Athens announce the completion of the competitive bidding process for the selection of a contractor for the project “New Facilities for the Panathinaikos Amateur Athletic Club (PAO),” which is being developed in the Dipli Anaplasis area in Votanikos.
According to the relevant press release, as part of the preceding competitive bidding process and following an evaluation based on technical, qualitative, and financial criteria, the company EKTER was selected as the contractor.
At the same time, the issuance of the building permit is in its final stages, paving the way for work to begin immediately, in accordance with the agreed-upon schedule.
AEP Eleona, in which Alpha Bank and Piraeus Bank hold equal stakes, has undertaken the full financing of the project’s design and construction, thereby confirming in practice their commitment to supporting urban regeneration and social infrastructure projects of strategic importance.
A new sports landmark for Athens
The selection of the contractor marks the start of the implementation phase of a project that aims to become a landmark for Greek sports and a key catalyst for the revitalization of the wider Botánico area.
The project is part of the Dual Regeneration initiative, one of the most significant urban renewal projects in Athens, aimed at creating two modern metropolitan hubs for sports, recreation, and culture in Votanikos and the Alexandras Avenue area. The constructive collaboration between AEP Eleonas, the Municipality of Athens, the Panathinaikos Athletic Club, and Panathinaikos FC throughout the project’s preparation and design has been a decisive factor in its smooth progress.
The new sports complex spans six levels, with a total area of approximately 16,000 square meters, and is designed to meet the needs of multiple sports, both for training and competitive activities. It includes a central multi-purpose indoor gymnasium capable of hosting international competitions and events, an auxiliary training facility, an Olympic-sized outdoor swimming pool, specialized training and rehabilitation areas, and a full range of support services.
Alpha Bank CEO Vasilis Psaltis stated: “Panathinaikos’ new facilities in Votanikos are a project that goes beyond the boundaries of a sports infrastructure. It creates spaces for sports, green areas, gathering, and life for the city.
And this is exactly the kind of initiative Alpha Bank chooses to be a part of. Our decision to fully finance the project was not a typical business choice. It was a commitment to the city and its people. Because the Double Regeneration project means more than just better facilities for thousands of athletes. It means upgrading the urban environment, new recreational spaces, new business activity, and new jobs. Two neighborhoods in Athens are rediscovering their identity.
In the center of Athens, buildings and infrastructure financed, developed, or utilized by Alpha Bank have already transformed the daily lives of thousands of workers, residents, and visitors to the city. Votanikos is the next chapter in this story.”
The CEO of Piraeus Bank, Mr. Christos Megalou, emphasized:“The selection of the contractor and the transition to the implementation phase mark a critical turning point for a project with a significant developmental impact. The Double Regeneration is one of the most complex and iconic urban intervention projects in Athens, combining the creation of modern infrastructure with the revitalization of a wider area of the city.
For us at Piraeus, our participation in this project reflects the role we seek to play in the economy: to provide substantial support for the implementation of major investments, to mobilize capital, and to create the conditions for the transition from planning to action. Projects of this scale require a long-term perspective, sufficient funding, and a strong framework for cooperation between the public and private sectors.
At the same time, investments in modern sports and social infrastructure act as a catalyst for the local economy, boosting job creation, business activity, and the overall revitalization of the urban environment. Through systematic support for such projects, we are helping to shape a more resilient and sustainable development model, with tangible benefits for society and the economy.”
The Mayor of Athens, Mr. Haris Doukas, stated: “Another pending issue is resolved… the sports facilities of PAO Amateur, a magnificent sports complex, are moving forward. With the signing of the contract with the construction contractor.It is located next to the new stadium—the jewel of Panathinaikos. In a Botanikos neighborhood that is being transformed into the greenest neighborhood in Athens.
We worked very methodically in close collaboration with all parties involved, whom I warmly thank. We inherited a stagnant situation, but we brought order and resolved a series of bureaucratic issues to achieve this result, which is very important from both a functional and an aesthetic standpoint.
The thousands of children and athletes of Panathinaikos Amateur will soon be at home in modern and safe facilities.
The City of Athens is fulfilling its duty to the next generation. Hoping to see new champions, new Olympic champions, and new Olympic medalists emerge. But above all, hoping to establish new, healthy role models for the whole of society, based on the pure values of sports.”
The President of the Panathinaikos Amateur Sports Club, Mr. Dimitris Vranopoulos, noted:“Votanikos has begun to take on the Panathinaikos character we all dream of, and the area is turning green. The soccer stadium has now taken shape, and the selection of the contractor also marks the start of construction on the facilities at ‘Mana tou Lochou.’
The club envisions its future in the shadow of the Acropolis, and armed with its new, modern facilities, it will begin to write the next golden pages of its history."