The European Commission has approved an initial allocation of €93 million from the Cohesion Fund for the regeneration of a 5,400-hectare coastal area in Attica's Falirikos Ormos.

The investment will transform the coastal front into a green, inclusive, and vibrant space in line with the principles of the New European Bauhaus and is expected to increase tourism, boost the revenues of local businesses, and boost the economic development of the area. By the end of 2028, the project ought to be complete.

The park will be freely accessible to the public. The funding will make the coastal front more attractive and transform the area into a hub of diverse activities. Swimming pools, themed playgrounds, event spaces, and a sports centre will be built, and the Olympic facilities located on the Falirikos Ormos will be developed and highlighted, hosting educational and creative activities.

The park and the activities it will host will be fully accessible to people with disabilities and, through the modernisation of the road network, trams, and paths, will be linked to the neighbouring areas. The funds will also support the flood protection of the coastal zone through the construction of drainage networks and rainwater collectors. Over 2,900 trees will be planted, and renewable energy sources will be integrated into the energy mix of the park.

The European Union will support the overall improvement of the quality of life of Athenians, who will be able to enjoy cultural and educational activities and the new park facilities.

Cohesion and Reform Commissioner Elisa Ferreira said. The green space will connect people of all ages, and residents will have access to sports, educational, and creative activities. Drawing inspiration from the New European Bauhaus, the project will be an excellent example of how urban regeneration can be designed in a sustainable, stylish, and inclusive way."