Greece and Israel dominate the Southern Europe section of the Euro Elite – and both are jurisdictions where domestic, independent firms enjoy a near-monopoly. In Greece, for example, Athens-based firms seemingly lead the legal market. Despite the continuous detrimental economic consequences arising from the Covid-19 pandemic, lawyers have remained significantly active in the past year due to the high demand of legal services across an array of markets; one of those being projects and privatisations.
Demanding the most attention in Greece is the €8bn Hellinikon Project, set to be the largest urban regeneration project in Europe, with the development replacing the former Hellenikon International Airport. There has been a continuous focus upon the construction, operation and execution of the project, with legal advice coming from an array of firms, including Dryllerakis, Karatzas & Partners, Koutalidis and PotamitisVekris. It is estimated to contribute 2.4% to Greece’s GDP once completed, aiding the significant decline of 9% as seen in 2020. Employment is also set to see an improvement, with 10,000 jobs already filled and 70,000 to follow, facilitating the opening of restaurants, hotels and shopping malls.
