The covered Olympic Stadium of Faliro, known as Tae Kwon Do, will be developed into a new, open Metropolitan Park under a concession signed between the Hellenic Public Properties Co (ETAD), part of the Growthfund, and the Region of Attica on Tuesday.
Signing the agreement were ETAD CEO Iro Chatzigeorgiou and Attica Region Governor Nikos Hardalias, in the presence of National Economy & Finance Minister Kyriakos Pierrakakis.
The agreement includes the Tae Kwon Do arena, Plateia Nerou (Water Square), coastal sections, the seashore, the sea front and existing facilities, all of which total 153,207.51 square meters. The new development will provide free services to the public and be accessible by all.
The 40-year concession, which was approved by the Court of Audit, goes into effect on January 1, 2026. During the transitional phase of 2026-2027, the Attica Region will assume the responsibility of carrying out necessary reports and secure funding for the project's implementation. The latter includes transforming Tae Kwon Do into a state-of-the-art conference and concert center, while ETAD will retain operational costs, maintenance, and profits. When the space is turned over on January 1, 2028, Attica Region will assume its entire management.
Under the concession, the annual payout to ETAD will be 1 million euros annually, while there is a provision for sharing in future net profits. ETAD will also participate in the managing agency.