Athens, June 19 – The ambitious VORIA hospitality, entertainment, and conference development in Marousi, northern Athens, is slated to open its doors in May 2028. Project developers unveiled updated plans on Wednesday, confirming the project’s new valuation at 380 million euros, a significant increase from the initial 250 million euros announced in 2024.
A New Landmark for Northern Athens
Project VORIA, meaning “north” in Greek, is strategically located at the intersection of Kifisias and Spyrou Louis avenues. Spearheaded by North Star Entertainment, this mixed-use complex is set to transform the area into a vibrant destination for business, leisure, and entertainment. The development will feature a five-star hotel, extensive conference and event facilities, diverse entertainment venues, and public green spaces. A key component of the project is the relocation of the historic Mont Parnes casino to this new hub.
During an on-site presentation at the VORIA construction site in Marousi, Giannis Tsirikos, CEO of North Star Entertainment, emphasized the project’s broader vision. “Our goal is not simply to create a new building, but a destination that offers a broad range of experiences, enhances the city’s appeal for residents and visitors, and contributes to growth in sectors where Greece has significant potential,” Tsirikos stated.
Key Features of the VORIA Development
At the heart of the complex will be a 170-room hotel operating under Accor’s prestigious MGallery Collection brand. This luxury property will boast a 2,000-square-meter spa and wellness center, a variety of restaurants and leisure facilities, and state-of-the-art conference and event infrastructure, including an 1,100-seat amphitheater.
The project is expected to generate approximately 2,000 direct and indirect jobs, providing a substantial boost to the local economy. Public benefits are estimated to reach nearly 700 million euros over a ten-year period, highlighting the significant economic impact of this development.
Infrastructure Upgrades and Urban Renewal
Beyond the immediate development, Project VORIA includes extensive public infrastructure improvements. These encompass crucial road upgrades around the Kifisias and Spyrou Louis junction, new traffic interventions to alleviate congestion, and the expansion of public green spaces. Architect Spyros Tsagkaratos, president and CEO of ASPA-KST, noted that the project is instrumental in completing a long-delayed urban planning process in the area.
Tsagkaratos explained that parts of the site had remained outside the city plan for decades despite their prime location along one of Athens’ main commercial corridors. The accompanying traffic works are meticulously designed to enhance road safety and optimize traffic flow in the wider area, ensuring seamless integration of the development into the surrounding urban environment.
Public-Private Partnership Driving Innovation
Project VORIA is a testament to a successful public-private partnership. ETAD, Greece’s state property agency, holds a 49 percent stake in North Star Entertainment. This participation stems from the contribution of the Marousi site through a long-term surface rights arrangement, which allows the state to retain a vested interest in the project’s future value and success.
Iro Hadjigeorgiou, CEO of the Hellenic Public Properties Company (ETAD), underscored the collaborative nature of the initiative. “VORIA is an example of how cooperation between the public and private sectors can create new development opportunities for the economy and local communities,” Hadjigeorgiou remarked. She further added that the project aligns perfectly with ETAD’s strategy of creating long-term value through the strategic development of public real estate assets.
Relocation of Mont Parnes Casino
The complex will also serve as the new home for the relocated Mont Parnes casino. This modern facility will feature 60 gaming tables, 1,100 slot machines, exclusive VIP gaming areas, and a selection of restaurants and bars. The relocation follows years of complex legal and planning procedures, including court challenges that were ultimately rejected by Greece’s Council of State. While the proposal initially drew some concerns from resident groups and local organizations regarding potential traffic and social impacts, the project has now moved forward.
With the relocation underway, attention will now shift to the future of the historic Mont Parnes property in Parnitha. ETAD has already begun exploring various options for the site’s next chapter, including a future tender process aimed at identifying new investment opportunities that respect the area’s unique environmental and historical significance.
Construction of VORIA is currently progressing, with developers aiming for completion ahead of the planned May 2028 opening. North Star Entertainment is jointly owned by the Greek state, through ETAD, with approximately 49 percent, and by Athens Resort Casino with 51 percent. Athens Resort Casino is controlled by Regency Entertainment, holding a 70 percent stake, with shareholders including the Laskaridis brothers and Sokratis Kokkalis, and Lampsa Hellenic Hotels. The remaining 30 percent is held by Intracom Ventures and interests linked to the Laskaridis family.
Source: https://news.gtp.gr/2026/06/17/voria-e380m-hospitality-project-in-northern-athens-set-for-2028-opening/
