For the past few months, the area of Ellinikon in the Athenian Riviera has been attracting the interest of both Greek and foreign investors, with more and more projects taking place in the area, the most impressive and ambitious up to now being the already famous Marina Tower (you can find more information on the Marina Tower project on https://www.law-services.gr/legal-articles-and-media/marina-tower-a-long-anticipated-real-estate-project-in-athenian-riviera-unveiled/).
Lamda Development, the developer of the principal part of the investments, is envisioning the area of Ellinikon as a truly unique destination, situated in the intersection of Athens’ metropolitan centre and the famous beaches of the Athenian Riviera. Given the significant size of their project, Lamda Development is planning to develop the area as an original “smart green city”, concentrating in one location everything its citizens might need, from green parks and sandy beaches to shops, cultural, entertainment and sports complexes, road infrastructures, accessible for all citizens.
In fact, starting from the 20th of December 2021, a part of the Metropolitan Park of Ellinikon, which upon its finalization is intended to cover a total area of 2.000.000,00 square meters, thus transforming into the largest urban park in Europe, named “The Experience Park” will be opening its doors to the public. The “Experience Park”, covering 70 acres, will be including a wide variety of green areas, water fountains, an outdoor fitness space and, especially for the Christmas period, will be hosting an impressive Christmas market.
Moreover, a state-of-the-art Commercial Hub was introduced to the public, with the awarded architectural office Aedas from Hong Kong taking over its design. The eco-friendly Commercial Hub is intended to host a multitude of Greek and international brand shops, restaurants, entertainment and spa locations, as well as commercial offices, while a mixed-use tower will also be built to host hotel apartments, offices and residential properties.
Along with the “Marina Galleria”, designed by the globally well-known architectural office Kengo Kuma and Associates, that will be incorporated at the heart of the project, sided by two hotels, the area is destined to grow into a major landmark and unique pole of attraction for visitors from all over the globe.
Even though the originally announced residential properties both in the Marina Tower, as well as the 27 beachside villas have all been sold out at impressive rates, Lamda Development recently confirmed the expansion of the project, specifying that within the first five years, an additional 1.000 properties will be constructed to cover the needs of the ever-increasing number of interested parties.
The coastal Poseidonos Avenue will constitute the focal point around which the new properties will be built. These unique properties will be addressed to middle and higher range investors, with their prices starting from €3.500,00 per square meter, even though the majority of them will reach €6.000,00 – €7.000,00 per square meter. More details about the properties are expected to be disclosed within the first semester of 2022.
At Amoiridis Law Services® we are dedicated at assisting our well-respected clients successfully complete any of their investment projects and real-estate purchases in Greece. Thanks to our longstanding experience, we are able to provide a full package of consultancy services to our almost exclusively international clientele, customised to their specific needs.
As a result, we have represented clients from all around the globe regarding their projects in Greece. Our network of associate experts, composed by both in-house and external solicitors, notaries, accountants, tax experts, currency exchange experts, realtors etc., enables us to provide an all-in-one package of consultancy services, guiding you through the ways to properly protect your investments.
For any further information and clarifications please do not hesitate to contact our qualified legal team, ready to provide you with further personalized information tailored to your needs and your profile.
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Athens, December 2021
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