North Star Entertainment aims to initiate the €250 million Voria project within the current year with the prospect of completion amidst a three-year time frame. The project seeks to establish a new entertainment and hospitality destination in Marousi aspiring to bring the northern suburbs of Athens into the forefront of both business and tourist interest.This was announced yesterday by the company’s management during the presentation of the new multipurpose venue which will include a luxury five-star hotel, event and conference facilities, dining and entertainment options, as well as the relocation of the casino from Parnitha. It is noted that the Public Real Estate Company holds a 49% stake in North Star, while Athens Resort holds 51%. Shareholders in Athens Resort include Regency with a 70% stake, and the remaining 30% is controlled by funds associated with the Laskaridis and Kokkalis groups.

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A new multipurpose venue is set to be developed on the Delaveri Estate, also known as Marmaradika, spanning 50 acres in the northern suburbs of Athens. It will feature extensive green spaces and advanced sustainability measures, covering 25,000 square meters of construction area. The project includes allocating 25 acres to the Municipality of Amarousion for public access areas, aiming to enhance residents’ quality of life. At this stage environmental terms approval have been obtained, with plans to start construction in 2024, pending remain building permits. The investment, totaling €250 million, aims to revitalise the culturally neglected area, according to Yanis Tsirikos, CEO of North Star Entertainment. Concerns about the casino and traffic congestion are addressed, with the casino integrated into broader spaces and traffic improvements planned. Notable transportation interventions include widening roads and creating new lanes and entrances, with a focus on sustainability and connectivity. The total cost for external transportation interventions is estimated at €10 million.

The objective is to turn the area around OAKA into a major recreational hub beyond Marousi’s role as a business center. Spiros Tsagkaratos, CEO of ASPA-KST, highlights the plan to contribute 50% of the land for redevelopment. Tasos Chomenidis of Greek Hotels LAMPSA S.A. notes the complementary nature of the development to peak hours. LAMPSA’s involvement signifies a shift in tourism perceptions, with the project aiming to create an open-space industry. Visitations are projected not to exceed 4,000 daily, with revenue from various sources expected to match that of the casino. Legal matters are pending, though optimism prevails with a Presidential Decree and Council of State review.