A £10 billion beachfront development on an abandoned airport site is set to transform a European capital city into a « mini Dubai ».
Built on the site of a former Athens airport which relocated in 2001, Ellinikon promises to be Greece’s « zip code paradise » that will transform the economy, comining green space, dining, leisure and luxury apartments with views over the Aegean sea.
The eco-friendly 15-minute city will feature Greece’s first skyscraper and a luxury 100,000 square metre shopping mall, 30,000 of which dedicated to green areas, to « unite shopping, entertainment, work, and relaxation within a single space ».
Lamda Development which is managing the project believes it will transform the economy, while predictions forecast it will attract one million foreign visitors annually and generate an additional £11.7bn (€14bn) in revenue.
CEO of Lamda Development Odisseas Athanasiou said: « The Ellinikon will reposition the country on the international investment map and will lead to an increased tourism footprint and a significantly healthier economy. »
Decribing the project’s progress, he confirmed: « Despite global economic challenges, we are on track with timings and look forward to completing the first phase in 2026. »
Riviera Tower, Greece’s tallest and first high-rise residential tower with 170 residences, is reportedly fully sold out, while the Cove Villas at ground level will « blend blend urban living with the serenity of beachside tranquility ».
Dubbed Europe’s mini Dubai, there are mixed sentiments behind its nickname.
Athens resident and saleswoman Peppy Koliakakou told the Daily Mail it is a « playground for the uber rich, which the average Greek will not be able to enjoy.”
However Athenian Antonis Theodoros said “I’m looking forward to it, » and thought the project is “going to be Vegas meets Miami in Athens ».
Athanassiou told the Financial Times that by 2037, the project will have created 80,000 jobs.
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