The City of Athens and the National Bank of Greece have signed a memorandum settling disputes over seven properties, most of which will become green space, squares and sports grounds. The bank is donating two of them, with a combined official value of €10.67 million.
The deal was announced by the City of Athens on 7 October 2026. According to the city, the seven properties had been tied up for at least three decades, including in court cases.
The settlement combines one expropriation, four donations, two purchases and the transfer of parking spaces in the Kotzia Square car park. The city has not said which mechanism applies to which property.
The seven properties
- Mitropoleos Square: a plot inside the square, to be developed as open public space.
- 154 Paraskevopoulou Street: already a park with sports facilities.
- 373 Acharnon Street: the former silk mill of A. Nathanail & Co., to become green space.
- 21 Alkiviadou Street: to become green space.
- The “Vouthoula” site in Elaionas: to be used in the Votanikos Double Regeneration project.
- Strefi Hill: to be used for sports facilities.
- Panepistimiou Street: a strip of land for pavement and a planted verge.
None of the seven is earmarked for housing. Mayor Haris Doukas said the deal ends long-running legal battles and gains space “for the city and its people”. National Bank chief executive Pavlos Mylonas said it creates real value for Athens and its residents.
The Votanikos link
The most significant item for the wider area is the Vouthoula site. Its expropriation is funded by the EU Recovery and Resilience Facility. The city says that settling its ownership and planning status lets the Votanikos Double Regeneration move forward faster.
What it means for buyers
This deal adds no homes to the Athens market. Its effect is on neighbourhood quality: a former industrial site on Acharnon Street and a plot on Alkiviadou Street are to become green space, and Strefi Hill gains sports facilities.
For buyers looking at western Athens, the Elaionas and Votanikos area is the one to watch. Faster progress on its regeneration could change how the area is perceived, but the city has given no timetable for the works.
What happens next
The city’s announcement does not set dates for the transfers or for the works on each site. It also gives no figure for the savings it says the deal brings, beyond calling them significant.
