ATHENS, Feb 22 (Reuters) - Greece’s top administrative court gave the go ahead for a luxury resort project on a disused Athens airport, a key term of the country’s international bailout, court officials said on Thursday.
The court approved a presidential decree, a key step for approving the project’s development plan, the officials said. The court ruled that the decree does not violate Greek law.
Progress on the project, which has been beset by delays, is being watched by Greece’s creditors as a test of Athens’ commitment to privatisation under its multi-billion euro bailout.
Property developer Lamda signed a 99-year lease with the state in 2014 to convert 620 hectares of wasteland at the former Hellenikon airport into a complex of luxury residences, hotels, a yachting marina and casinos. (Reporting by Renee Maltezou and Angeliki Koutantou)