ECONOMY

Innovation zone near Thessaloniki

innovation-zone-near-thessaloniki

The possibility that Greece could develop its own version of Silicon Valley has grown more likely, as the state has recovered ownership of the 760,000-square meter plot at Peraia in Thessaloniki, where a fourth-generation technology park is to be developed.

This is a seaside property with a 750-meter frontage on the Thermaikos Gulf that used to belong to state broadcaster ERT and was transferred to state privatization fund TAIPED in 2013. However, a few years ago the strategy for the utilization of the plot changed: It was decided that the property should return to the state so that it could be conceded to the Alexander Innovation Zone, the administrative entity to organize and promote the Thessaloniki innovation zone, for the development of a technology park.

The new entity will have to complete the necessary studies and secure the financial resources by end-2021, otherwise the property will be returned to TAIPED.

The project constitutes an investment of 50 million euros to come from private parties, loans and donations. Some €250,000 has already been spent on studies and the business plan, as the president of the Alexander Innovation Zone, Kyriakos Loufakis, tells Kathimerini.