The Greek privatization fund TAIPED (Hellenic Republic Asset Development Fund) is to undertake the sale of the disused Olympic facilities in Athens, construction of which cost more than 577 million euros.
The total cost of the construction was based on data from Greece’s Ministry of Infrastructure, as revealed in Parliament on April 22, after a request by SYRIZA MP Giorgos Pantzas.
According to the official figures, the final cost of the construction invariably exceeded the estimated cost. For the construction of the Schinias Olympic Rowing and Canoeing Center, for example, the original budget was 64.1 million euros but in the end it cost 67.9 million. The Olympic Sailing Center in Agios Kosmas and the Ellinikon Olympic Complex eventually cost 116.2 million and 192.6 million euros respectively.
Moreover, baseball, softball and hockey facilities cost an estimated 88 million euros without VAT, the tax taking the cost to 102.2 million euros. The same happened with the basketball, handball and fencing facilities, which had an original budget of 63 million euros (without VAT), but which finally cost 90 million euros to build.
Likewise, the Olympic Canoe/Kayak Slalom Center, also located in Ellinikon, had an original budget of 28 million (without VAT) and a final cost of 34.4 million euros (incl. VAT).
Finally, the construction of the Olympic Hall in Galatsi rose to 60.4 million euros and the Olympic Equestrian Center in Markopoulo cost about 106 million euros.
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