Seven National Bank of Greece properties in Athens are covered by an agreement with the City of Athens aimed at securing their use for public amenities. The Memorandum of Cooperation and Understanding addresses longstanding property ownership issues and includes a site linked to the urban regeneration project in Votanikos.
For hospitality professionals, the agreement matters because public spaces help shape the quality of a destination. They are part of residents’ everyday lives and visitors’ experience of the city.
Which properties are included?
According to the City of Athens announcement, the agreement covers:
- A property within Mitropoleos Square, to be developed as a public space.
- A property at 154 Paraskevopoulou Street, which already accommodates a park and sports facilities.
- The former A. Nathanail & Co. silk factory at 373 Acharnon Street, designated for use as a green space.
- A property at 21 Alkiviadou Street, also intended for green space.
- A property in the Vouthoulas area of Elaionas, to be used for the Votanikos urban regeneration project.
- A property on Strefi Hill, intended for sports facilities.
- A strip of land on Panepistimiou Street, to be used as a pavement and landscaped setback.
How will the agreement be implemented?
The agreement provides for one property expropriation, four donations and two property sales, alongside the allocation of parking spaces in the Kotzia Square car park.
The expropriation of the Elaionas property is funded through the Recovery and Resilience Facility. The announcement does not provide a detailed timetable for work at each site.
Why it matters for neighbourhoods and hospitality
The agreement’s practical impact will depend on implementation: how the spaces are developed, made accessible and maintained. In a city where housing, business activity and tourism coexist, these improvements could support the everyday functioning of its neighbourhoods.
Their effect on the local property market and hospitality sector will need to be assessed as the projects move forward.
