The Commission approved an initial amount of 93 million euros from the Cohesion Fund to support the regeneration of a seaside park along the Faliro Bay

The European Commission approved an initial amount of 93 million euros from the Cohesion Fund (CF) to support the redevelopment of a seaside park, covering an area of 540 hectares, along the Faliro bay in Athens. The investment will transform the city’s waterfront into a green, inclusive, and vibrant space, in line with the principles of the New European Bauhaus, with the potential to boost tourism, increase revenues for local businesses, and stimulate regional economic development, as stated in a Commission announcement. The project is expected to be completed by the end of 2028.
The park will be open to the public, free of charge, with resources used to make the waterfront more attractive and the area into an activity hub. Swimming pools, themed playgrounds, event spaces, and a sports center will be constructed. At the same time, facilities used for the 2004 Olympic Games will be repurposed for educational and cultural activities.
The park and its activities will be fully accessible to Persons with Disabilities, and through the modernization of roads, tram networks, and paths, they will be connected to neighboring areas. Thanks to the implementation of sewage networks and stormwater collectors, the resources will also support the flood prevention capacity of the waterfront. More than 2,900 trees will be planted, while Renewable Energy Sources will be integrated into the park’s energy mix.
The EU support will improve the overall quality of life for Athens residents, who will now be able to enjoy the park’s educational and cultural activities and many facilities, as noted by the Commission.
The Cohesion and Reforms Commissioner Elisa Ferreira highlighted that the park “will become a new attraction and tourist landmark for the city of Athens. The green space will connect citizens of all ages, and residents will have access to sports, educational, and creative activities. The project, inspired by the New European Bauhaus initiative, will be a perfect example of how urban investments can be designed in a sustainable, aesthetic, and inclusive way”.