In full progress is the largest urban regeneration project in Europe carried out in our country by LAMDA Development. In particular, as stated in today’s, third in a row, information note on the progress of the projects, the great work of Ellinikos it is, day by day, more and more visible to everyone.

“The pace of work is feverish and the more than 30 cranes, working daily on the construction site, can be seen from Poseidonos, Vouliagmenis and side streets. Within just a few months of the largest, continuous concreting ever done in Greece, the first floors of the Riviera Tower, the tallest skyscraper in the Mediterranean, are now clearly visible.

Throughout the development, work is progressing intensively. The first stages of construction of the houses on the beach front are progressing and can be seen, while after the completion of the huge soil decontamination project, the foundations were laid for The Ellinikon Sports Park, the state-of-the-art Sports Centrewhich will be another jewel of the new city of Hellinikon”, it is pointed out, among other things.

Agreement with Brook Lane and Kostea-Geitona

At the same time, an agreement was signed with Brook Lane for the development of the Mixed Use Tower in the area of ​​Vouliagmeni Ave., while another important agreement is the one signed with Kostea-Geitona schools, which will develop and operate within Ellinikon, the CGS at the Ellinikon. A model school, which will offer National and International Certified Curriculum.

“The value of what we create in Elliniko is recognized by citizens, investors, Greek and international media. The biggest confirmation of all this recognition is the fact that the leading American magazine TIME, with its millions of readers, included LAMDA Development, the only Greek company, in the list of the 100 most influential companies around the world for the 2024. Every project we deliver is an example of a new way of life, a new proposal for a modern, green and functional everyday life. Together we travel on this exciting journey of the new, modern, green city of Ellinikos. Every day closer, higher to our goals of creating Europe’s largest urban regeneration”, says LAMDA Development.

In particular, with regard to the individual progress of projects in the context of urban regeneration, the following were made public, among others:

Residential developments

The first floors of RIVIERA TOWER and COVE RESIDENCES visible from Poseidonos: The first floors of the Riviera Tower are a fact. The tallest residential, seaside skyscraper in the Mediterranean, distinguished by its green, environmentally friendly design, with its magnificent sea view, is taking shape.

Many cranes work every day and a multitude of specialized engineers, designers and technicians bring us closer and closer to the completion of this modern and innovative, highly aesthetic building. 167 are the Riviera Tower apartments that have either been sold, or advance payments have been made for their acquisition.

Also visible from Poseidon Avenue are the cranes working at The Cove Residences, where construction work is in full swing. The new 115 residences of Elliniko have the stamp of the architectural firm Bobotis+Bobotis Architects and ISV Architects and have already been sold or the advance payments for their purchase have been deposited.

Both Riviera Tower and Cove Residences will be completed within 2026.

Regarding The Cove Villas, the required demolitions have been completed, building permits have been issued for 12 plots, while the process of issuing a building permit for an additional 7 plots is underway. Watch the relevant video here

The new Little Athens neighborhood

Construction work has begun on Little Athens, LAMDA’s contemporary residential and commercial development proposal, with the first excavations for Park Rise, the 50-metre-tall, 12-storey building designed by the internationally acclaimed architectural firm Bjarke Ingels Group (BIG). and will consist of 88 luxury residences.

The new neighborhood of the city of Ellinikos, which in total will include 1,115 residences and 115 spaces that will serve the daily needs of the neighborhood, is completed by four new residential complexes, the Pavillion Terraces and Promenade Heights by the architectural office 314 Architecture Studio, the Atrium Gardens by Deda & Architects and Trinity Gardens by Tsolakis Architects. The highly aesthetic residences of Little Athens, with direct access to the sea and the Park, are part of the sustainable and intelligent ecosystem of Ellinikos and are expected to be completed by the end of 2026, according to the Phase I plan.

Little Athens captures the “15 minute city” modelwhere residents can have everything they need in their daily lives, entertainment, shopping, sports and wellness, just 15 minutes away.

The Ellinikon: A “smart” city with “smart” houses

Apart from the great architectural signatures behind each residential and commercial development of The Ellinikon, what makes the new town residences unique are the ‘smart’ management systems. The “Homes of the Future” will have the appropriate infrastructure to offer unique services to their residents, such as the central control and programming of all their household appliances and the optimization of their operation based on their needs and habits.

In this way, resource consumption and environmental footprint will be minimized, ensuring a sustainable future for all. The “smart” technologies that the state-of-the-art residences of Ellinikos will have are part of the unique standard of living introduced by the new city, as in addition to the ease of transportation, the infrastructure will also be of the latest generation.

Internet of Things, AI analytics, fiber optic networks and 5G give added value to the daily lives of those who live and work there, offering an unprecedented and upgraded experience for The Ellinikon visitors as well.

Infrastructure projects

– POSEIDON UNDERGROUNDING: One of the biggest infrastructure projects, created by the development of Elliniko in the southern suburbs, is the project of undergrounding part of Poseidonos Avenue. Construction work for one of the most modern tunnels in Europe is progressing at a rapid pace, with excavation 80% complete and concreting 60% complete. Watch the relevant video here

– FLOOD PROTECTION PROJECTS: Protection from the effects of climate change: The city of Ellinikos and neighboring municipalities are already shielding themselves against the visible effects of climate change thanks to the ongoing work to delineate the streams that were trapped for decades under the former airport:

– Trachon Stream: 95% of the excavations and 65% of the concreting works have been completed.

– Airport Stream: In full progress are the demarcation works of the stream of the Airport or Evryalis as it was formerly known. The work on the Trahonon stream, within the airport area, will be completed in 2024, while on the Airport stream in 2025. Watch the relevant video here

Sports facilities

Works underway for The Ellinikon Sports Park

Football pitches, open track, throwing track, wet track, basketball and tennis courts. The works for the construction of the state-of-the-art Hellinikon Sports Center, which will be an international point of reference for sports, serving athletes, clubs, associations and federations from all over the world, are progressing at a feverish pace.

So far, the foundation works for the building of the athletes’ dormitories and for the new administration building of the football facility have been completed. The foundation works for the athletics stands are in full progress, as well as the earthworks for shaping the entire sports center.

The new sports facilities are expected to be delivered to the public in 2025, enabling athletes to train in facilities of international standards and the citizens and visitors of Hellinikon to have access to a state-of-the-art sports center. The relevant video here

Commercial developments

The Ellinikon Mall, the mall on Vouliagmeni Avenue

In 2023, work began on The Ellinikon Mall. Already, 8-meter-deep excavations have been carried out on a 122-acre plot. It is one of the largest foundations in terms of area.

With advanced technologies and artificial intelligence applications, the Mall of the great development of Ellinikos will offer an unprecedented and multidimensional shopping, entertainment and meeting experience to visitors of all ages from all over Attica.

The completion of the project is expected in 2027, while in terms of commercial leases, 70% of the GLA is recorded for 2023. Watch the related video here

The information note also states, among other things, that 2023 was the first profitable year in terms of operating results for the Hellinikon project. And this was achieved within 2.5 years of the acquisition of the shares by LAMDA Development. The operating EBITDA profits amounted to 65 million euros, while the total receipts from property sales amounted to 641 million euros from the start of the project until 31.3.2024.