KAS, Greece’s Central Archaeological Council and the top advisory body on the protection of antiquities, has ruled that more than 30 hectares in Elliniko is of archaeological interest.

On Tuesday the council met for the fourth time in a month to discuss the case, as the location of the archaeological findings coincides with the 620 hectare plot of a planned real estate investment. It is not yet clear to what extent this ruling will affect the commercial development of the former international airport by Greek company Lamda, who signed a 99-year lease with the state in 2014.

Lamda and its co-investors from China and the UAE are extremely disappointed Kathimerini reports, having submitted an €8 billion plan in July, committing to turn the site into one of Europe’s biggest coastal resorts.