Renovation work at the Peace and Friendship Stadium in Piraeus is split into two completely separate projects managed and funded by different entities.
Greek news website protothema.gr reported that the multi-purpose sports complex is undergoing a private arena transformation alongside a publicly funded energy overhaul.
Olympiacos BC is executing the first project to modernise the indoor facilities and convert the building into a dedicated basketball venue. The club operates as the lessee of the stadium following approval from stadium management and the securing of a legal building permit.
Olympiacos BC designed, planned, licensed, and funded the facility upgrade entirely on its own. The club has already spent approximately 15 million euros on the works, with no fixed financial ceiling set for total expenditure as exterior grounds work will follow.
The scope of the club's project includes lowering the arena court level, modernising locker rooms, training facilities, and auxiliary spaces, constructing 25 new VIP suites, and repairing damage to the exterior building facade.
Olympiacos BC is a professional basketball club based in Piraeus that competes in the Greek Basketball League and the EuroLeague. The Peace and Friendship Stadium, commonly known as SEF, opened in 1985 in the coastal district of Neo Faliro and serves as the long-standing home court for the team.
State energy upgrade project
The second project is an independent energy efficiency upgrade of the stadium building with a total budget of 24.8 million euros including Value Added Tax. The Technical Chamber of Greece is implementing the work under a Programmatic Agreement with the Peace and Friendship Stadium legal entity.
Funding for the energy overhaul comes from the Sectoral Development Program and Regional Development Program for 2026 to 2030 managed by the Ministry of Education, Religious Affairs and Sports.
The energy interventions focus on upgrading the window frames and glass facades of the arena, repairing and improving roof waterproofing, and modernising electromechanical heating, ventilation, and air conditioning systems.
The energy project is undergoing a new public tender with a submission deadline for bids set for September 10. The Technical Chamber of Greece cancelled a previous tender to adjust its terms following observations from the Court of Audit.
The contracting authority clarified that the Court of Audit did not issue a ruling cancelling the tender, but rather the Technical Chamber of Greece opted to update the tender conditions to address feedback from the auditors.
The Technical Chamber of Greece serves as the statutory technical advisor to the Greek state, while the Court of Audit functions as the supreme administrative tribunal overseeing public finance and procurement in Greece.
Both independent projects proceed in parallel toward the ultimate goal of upgrading the overall Peace and Friendship Stadium infrastructure and turning the venue into a modern basketball arena.
