The £10 Billion Ellinikon Project – Europe’s Largest Real Estate Venture

The old Hellinikon airport that will be transformed into a tourist location

The former Ellinikon International Airport in Athens Greece is being reimagined into a sprawling, state-of-the-art development that will redefine the city’s landscape. The Ellinikon Project, a $13 billion (£10.2 billion) real estate venture, is set to bring a new era of modern luxury and sustainability to the heart of Greece, so the developers say in their most recent push to promote the long awaited development.

At the helm of this ambitious project is Lamda Development, a real estate company in Greece. The Ellinikon Project has been dubbed a “15-minute city” by Lamda’s boss, Odisseas Athanasiou. This vision means that visitors will be able to traverse the entire 620-hectare site in just 15 minutes, seamlessly moving between the various attractions and amenities.

Strategically located just 20 minutes from the Athens city centre and 35 minutes from the Athens International Airport, the Ellinikon site is poised to become a transportation hub. The development will be served by multiple public transport routes, including a tramline and two metro stations, ensuring easy access for both residents and visitors.

In a bold move to prioritize sustainability and pedestrian-friendly spaces, the Ellinikon Project will ban private vehicles within the site, with the exception of emergency vehicles. This car-free approach will create a serene, walkable environment, allowing visitors to fully immerse themselves in the various attractions and experiences on offer.

At the heart of the development will be the Riviera Tower, Greece’s first residential skyscraper. Standing at an impressive 200 meters tall, this 45-story building will house 200 luxurious apartments, with panoramic views of the Athenian Riviera and the iconic Acropolis. The project has already generated significant interest, with all apartments, including two penthouse suites, already sold.

The Ellinikon Project will also feature a sprawling marina, capable of accommodating over 300 yachts and boats, catering to the discerning tastes of the affluent. Complementing the marina will be a stunning, 1-kilometer-long sandy beach, providing a serene and picturesque setting for visitors to enjoy.

In addition to the marina and beach, the Ellinikon Project will offer an array of leisure facilities, including five-star hotels, multiple shopping centers, restaurants, and a casino. At the heart of the development will be a 600-acre public park, seamlessly connecting the various elements and providing ample green spaces for visitors to explore.

Lamda Development has emphasized the importance of sustainability in the project’s design and implementation. The Ellinikon will be the “smartest and greenest city in Europe,” according to Odisseas Athanasiou, the company’s boss. This commitment to sustainability will be reflected in the use of renewable energy sources, efficient waste management systems, and the integration of green spaces throughout the development.

In addition to its tourism potential, the Ellinikon Project is expected to create 85,000 jobs, making it a crucial driver of economic growth and employment in the region. This influx of jobs and economic activity will undoubtedly revitalize the local economy and contribute to the overall prosperity of Athens and Greece say developers.

The Ellinikon Project is a massive undertaking, and the development team is committed to delivering the first phase by 2026. Despite the global economic challenges, Lamda Development remains on track with their timelines, ensuring that the project’s transformative impact on Greece and the world will be realized in the near future.

The project will be implemented in a phased approach, with the first phase nearing completion. This measured rollout will allow the development team to carefully manage the construction process, ensure quality control, and gradually introduce the various elements of the Ellinikon Project to the public.