Staff Report,
Dubai, UAE
The Ellinikon, Europe’s largest urban regeneration project and a 15-minute, smart, green coastline city built in Athens, will see its first phase generate €3.3 billion (Dh13.14 billion) of cash proceeds upon completion, according to the megaproject’s developer, Lamda Development. Phase I will see the completion of the largest part of the commercial developments, the regeneration of the Coastal Front and Agios Kosmas Marina, a large part of The Ellinikon Park, and approximately 1,500 units of residential development.
Lamda delivered the first building, Care Centre for People with Disabilities which spans 11,500 square metres, earlier this year. The Ellinikon will house The Riviera Tower, the tallest skyscraper in the country and the tallest green seafront high rise on the Mediterranean. The completion of the building’s raft foundation was achieved through a 40-hour process of continuous concrete casting, the longest such process in Greek history. Hill International has been appointed as the project’s construction supervisor. Construction of The Cove Residences began after it received building permits for all four blocks in early 2023.
The developer has already sold more than 350 coastal front residential units. It launched Little Athens, a community featuring 115 residences ranging from one- to four-bedroom residences and 110 retail units, and Park Rise, a 12-floor, 50-meter-high, 88-residence building. It also unveiled Pavilion Terraces, a development of seven six-storey residential buildings comprising 156 one- to five-bedroom apartments.
The Ellinikon will also feature The Ellinikon Mall and The Ellinikon’s Sports Park as part of its shopping and leisure destinations. The mega development is projected to attract at least one million new tourists.
Significant progress has been made on The Ellinikon’s infrastructure. At the Poseidonos Underpass, which will unite The Ellinikon’s coastal front with its urban core, more than 70 percent of the total volume has been excavated with nearly 40 percent concreted.
Regarding site remediation, more than 1,000 cubic meters of underground water and more than 6,000 tons of soil have been treated on-site. Additionally, 5.5 km of old fuel pipelines have been removed and tree transplants are in progress.
The Ellinikon will also be protected from many effects of climate change—such as flooding—through the Trachones stream, a pioneering project and part of the city’s strong flood protection system. Excavation work for the flood protection systems has been completed by 60 percent and 88 percent of the excavation work and 65 percent of the concreting work of the central rainwater collectors have also been completed.
Lamda has revealed project updates for 2024 which include the construction of the Riviera Galleria, regeneration of the 3-km coastal front, including the 1.5-km long public beach, and the development The Ellinikon Park, the world’s largest coastal park.
Ends
Also read: The Ellinikon unveils 156 homes in Pavilion Terraces
