The Ellinikon, Europe's Flagship Urban Regeneration Project, Moves Forward at Full Speed
- Bold new developments announced, and milestones reached
- Multi-million-euro partnership with ION Group for an R&D Innovation Campus
- East Village, a new Ellinikon neighborhood launched
ATHENS, Greece, Oct. 2, 2025 /PRNewswire/ -- The Ellinikon, Europe's biggest urban regeneration project, is moving forward at full speed. With construction now underway across more than 40 active sites involving approx. 3.000 workers and 18 leading contractors, LAMDA Development is delivering major milestones across its visionary master plan on the Athenian Riviera.
The Creation of a European Hub for AI and Digitalization
On August 28th, LAMDA Development accepted a binding offer from ION Group, a leading global financial technology company, for the acquisition of land within The Ellinikon to develop a Global R&D and Innovation Campus co-locating around 2,000 professionals from 44 countries.
The Campus, to be developed by ION Group across two distinct neighborhoods, will have a maximum buildable area of approximately 250,000 sqm. It will feature at least 50,000 sqm of office and collaboration space, a 1,000-seat auditorium designed to host international events, and up to 200,000 sqm of residential developments to accommodate ION Group's professionals.
This landmark partnership marks the launch of The Ellinikon Business District, the final component of the project's masterplan, and firmly positions The Ellinikon as a European hub for AI and digitalization.
Next-Generation Smart City Welcomes The University of Nicosia
Another milestone announcement made in support of The Ellinikon's smart city ambitions is the decision made by The University of Nicosia to open their first university campus in Greece.
UNIC Athens will be an emblematic integrated university campus operating within The Ellinikon and 75,000 sqm. of buildable space has been reserved to create a campus for academics, research, and student residences enabled by AI, robotics, and wellness technologies.
The subsequent phases of the UNIC Athens campus within The Ellinikon project are targeted for completion in 2028 and 2031, respectively.
Residential Developments Reach New Heights
The residential pipeline at The Ellinikon continues to advance rapidly. Riviera Tower, Greece's first skyscraper and tallest building, has now reached 30 floors, moving past the halfway point toward its final height of 200 meters. Once complete, the 50-story tower will house 173 residences and stand as the tallest residential skyscraper in the Mediterranean.
Momentum continues across the residential portfolio, with the launch of the tenth residential offering at The Ellinikon, Skyline Havens, a new collection of 150 refined residences. Ideally situated on the eastern side of the project, close to the Commercial Hub and Elliniko Metro Station, Skyline Havens forms part of the East Village, a prominent new neighborhood with elevated position offering widespread views. Spanning eight mid-rise buildings, this elegant complex offers elevated indoor-outdoor living with panoramic views of the Aegean Sea, The Ellinikon Park and the Athenian skyline. Designed around light, water, and a seamless flow between interior and exterior spaces, Skyline Havens offers dual-frontage homes, expansive balconies with sea views from the majority of the residences, private pools in all ground floor and penthouse units, and access to exclusive resident-only amenities, including fitness area, outdoor pool, kids playground, reception and concierge services, and secure parking.
Meanwhile, Little Athens, the lush parkside neighborhood, continues to progress steadily. This verdant city-within-a-city features 1,115 residences and over 100 retail shops at street level, offering unique residential projects such as Park Rise, designed by Bjarke Ingels Group, Pavilion Terraces, Promenade Heights, Atrium Gardens, Trinity Gardens, and Sunset Groves.
Retail Renaissance: Riviera Galleria and The Ellinikon Mall Take Shape
Where the sea meets modern design, Riviera Galleria, the luxury seafront shopping and lifestyle destination, is already emerging as a new architectural icon. With construction advancing steadily, its first floor is now visible from Poseidonos Avenue, offering a preview of the standout destination along the Athenian Riviera. Designed by the internationally acclaimed Japanese architect Kengo Kuma, this 23,000 sqm. leisure hub will offer curated experiences featuring premium Greek and international brands, fine dining, and sweeping views of the Saronic Gulf. Signed Heads of Terms (HoT) with tenants have reached 78% of the GLA.
Just inland, The Ellinikon Mall, designed by the award-winning practice Aedas is set to become the largest and most advanced retail destination in Greece, and one of the most significant in Southern Europe. With a Gross Leasable Area (GLA) of 100,000 sqm., the mall is being developed with a hybrid, sustainable design that seamlessly integrates indoor and outdoor spaces, to create an innovative retail, entertainment and leisure complex where visitors can shop, relax, and connect amid nature and innovation.
Signed Heads of Terms (HoT) with tenants have reached 64% of the GLA.
The Ellinikon Sports Park: Fitness for All, Coming Soon
Construction is underway on the 287,000 sqm. Sports Park, which will be soon welcoming athletes. Designed for all ages and abilities, the park, which will be open to the public by mid-2026, will include football, tennis, and basketball courts, a track-and-field arena, and wellness infrastructure built to international standards.
Calm Waters Emerge: A New Lake at the Heart of The Ellinikon Park
Within The Ellinikon Park, the largest coastal park in Europe, works are underway on a major ecological feature: a 14,600 sqm. lake. Set between the Experience Park and the Sports Park, the lake area transforms the broader site of the 2004 Olympic canoe-kayak venue and the former Aviation Hangars into a vibrant green and blue sanctuary.
Designed in harmony with the local natural wetlands, the lake itself will be surrounded by a 900-meter perimeter path, two pedestrian bridges, and tree-lined walkways that integrate with the wider park landscape. Over 11,000 trees and samplings and 148,000 bushes are to be planted, along with aquatic plants which naturally purify the water and support local biodiversity. This transformation serves as a powerful symbol of ecological renewal, where nature, culture, and wellbeing seamlessly converge in a new, sustainable urban landscape.
For more information about The Ellinikon, please visit https://theellinikon.com.gr/
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SOURCE Lamda Development
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