Port of Piraeus permanent navy base for the mighty Athenian fleet. However, in the late 4th century BC began a long period of decline for Piraeus; the harbours were only occasionally used for the Byzantine fleet and the city was mostly deserted throughout the Ottoman occupation of Greece. In 2002 PPA and the Greek government signed a concession agreement. The Greek government leased the port zone lands, buildings and facilities of Piraeus Port to PPA for 40 years. In 2008 the duration of the concession agreement was modified from 40 to 50 years. With this modification the lease is ending in 2052. Since
Piraeus plan was also drawn up and approved by King Otto, but not completely fulfilled, as it was revolutionary for its time. The municipality was established in 1835, reviving the ancient name 'Piraeus'. Following petitions from the new and emerging prosperous bourgeoisie, municipal elections were held to elect a mayor for the city, Kyriakos Serfiotis of Hydra. Piraeus had around 300 inhabitants at this time. Piraeus, from a deserted small town, quickly became the leading port and the second largest city in Greece, with its prime geographical location and closeness to the Greek capital helping it continually to grow, attracting people