Greek: The contract for Riviera Tower was signed – The identity of the tallest, “green” residential tower in Greece – Photo

The consortium of companies Bouygues Batiment International and Intrakat, undertakes the construction of the highest, “green” residential tower in Greece, the Riviera Tower, after the completion of the relevant selection process, as announced by Lamda Development. The Riviera Tower construction contract was signed today. The construction of the Riviera Tower is a budget project 300 million euros.

The joint venture of the companies Bouygues Batiment International and Intrakat, is a collaboration between one of the leading construction companies worldwide, with an excellent reputation and extensive experience in the design and construction of high-rise luxury residential buildings, and one of the leading construction companies in Greece in the infrastructure sector and of buildings. With this selection, the consortium moves to the next stage of the construction of the Riviera Tower, following the provision of advisory services in the form of Early Contractor Involvement (ECI) and the implementation of the preparation and preliminary works, regarding the design, planning , supply chain and construction management of the project as an Early Works Contractor (EWC).

The identity of the project

The 50-story tower, it will feature sea views, luxury apartments and unique amenities, such as a swimming pool, gym and spa.

The tower’s location on the Athenian Riviera will offer residents stunning views of the Aegean Sea and easy access to beaches, restaurants and cultural attractions.

As Lamda Development has announced, at the end of the year it is expected that the first floors of the Tower will begin to be visible. Work has already begun by the Bouygues – Intrakat joint venture.

The foundation system is made with an innovative method applied for the first time in Greece and consists of 300 piles with a diameter of 1 – 1.5 m at depths ranging from 35-50 m.

At the same time, the construction of a partition wall with a perimeter of 520 m and a depth of 15 m is in progress, so that during the works the excavation of the basements is protected from the water table.

Completion of the first part of the work – the foundation in the floor plan section of the Tower – will take place inside of the second quarter of 2023.

As Lamda has already recently informed about Riviera Tower, the purchase and sale has been completed (signing of notarial deed) for 127 apartments out of a total of 169 (75% of the total), with total receipts amounting to 71 million (20% of the price). In addition, customer advances have been deposited for 27 apartments (16% of the total), with the total amount of advances at approximately €8 million. The completion of the purchase and sale for the 27 apartments is expected in the second quarter of 2023, while the negotiations for the remaining 15 apartments are in the final stage, in order to deposit the advance payments from the buyers.

The CEO of LAMDA Development, Odysseas Athanasiou stated:

“Elliniko is a project of global scope. It is a vision, which for two years has passed to the stage of implementation. In this course for the creation of the new, modern, green city, we choose as our partners the best in every field, from Greece and abroad. We are particularly happy about the signing of today’s agreement with the consortium Bouygues Batiment International and Intrakat, which undertakes a particularly demanding project, the construction of the first, tallest building in Greece, the Riviera Tower. The seafront residential tower of the major redevelopment of Ellinikos, 200 meters high, designed by the internationally renowned architectural firm Foster+Partners, we envisage that it will soon become the new landmark for our country.”

The Vice President and Managing Director of Intrakat, Alexandros Exarchou, said:

“We are proud to be involved in The Ellinikon, the largest urban regeneration project in Europe, with the construction of the highest, ‘green’ skyscraper in the Mediterranean, the Riviera Tower, in joint venture with Bouygues Batiment International. Lamda Development, recognizing the know-how of the Intrakat Group, entrusted us with the timely and thorough completion of the project. By participating in this iconic project, we are taking part in an important initiative, focused on sustainable development, which will boost the country’s economy, create jobs, boost tourism and attract billions in capital and investment. The realization of the Riviera Tower will act as a symbol of the ability of the Greek construction industry to successfully undertake and complete complex, large-scale projects.”

About LAMDA Development

LAMDA Development, listed on the Main Market of the Athens Stock Exchange, is a holding company specializing in real estate development, investment and management. LAMDA Development Group plays an eminently important role in the sector of large shopping and entertainment centers in Greece and has invested in the development of residential buildings and offices, mainly in Greece, as well as in countries of N.A. Europe. The Group’s investment portfolio includes four shopping and entertainment centers (The Mall Athens, Golden Hall and Designer Outlet Athens in Athens and Mediterranean Cosmos in Thessaloniki), office complexes, residential complexes, and marinas in Floisvos and Elliniko. LAMDA Development has undertaken the comprehensive metropolitan redevelopment of the area of ​​the Hellinikon – Agios Kosmas Metropolitan Pole (the redevelopment of the former Hellinikon airport as well as the development of the beach front), which will be the largest private investment in Greece and one of the largest urban regeneration projects in Europe. The estimated amount of the investment amounts to 8 billion euros. The majority share in the company is held by the Latsis Group.