The approval of a funding proposal for the new Panathinaikos FC stadium in the Votanikos section of Athens by the Ministry of Environment and Energy is one of the most significant steps for the start of the stadium's construction, Athens Mayor Haris Doukas said on Friday.

According to the decision, funding totaling 115 million euros has been secured through the National Development Plan for 2021-2025, opening the way for the Municipality of Athens to begin immediate construction of the stadium, covering a total area of 3.36 hectares (33.6 stremas).

"The new state-of-the-art Panathinaikos field represents a commitment we have made to its thousands of fans, as well as to the residents of the neighborhood of Votanikos, who will see their area get upgraded," said Doukas. The mayor added, "Securing this funding from the Ministry of Environment and Energy, following the submission of the relevant proposal by the Municipality's General Secretariat and with the technical support of the Development and Tourism Promotion Company of Athens (EATA), clears the path so that the main construction phase of the stadium begins and the implementation of this great project moves ahead."

The project will be supervised by the city's Technical Service and EATA.