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Urban regeneration has been at the forefront of urban planning and development in European cities for many decades and is strongly connected to property-led development, with the involvement of various stakeholders. In Greece, urban regeneration, as a public policy response to large-scale abandonment and dereliction of urban land, has not been successful so far. The Greek planning system and its provisions for renewal of degraded urban areas have for long been regarded as an obstacle to the implementation of urban regeneration projects. The reform of the planning system in the 2010s introduced some critical changes, with an emphasis on larger-scale development, but with no particular focus on urban regeneration. Using two case studies of regeneration projects in the city of Thessaloniki, this paper attempts to provide an insight into the role of the various stakeholders in such projects. It is argued that in …