Tuesday, March 28, 2023
News
NEWS HOME
»
PRN INDIA
THE ELLINIKON, ONE OF THE WORLD'S LARGEST URBAN REGENERATION PROJECTS, BREAKS GROUND ON RIVIERA TOWER, GREECE'S TALLEST BUILDING, AMID ACCELERATING INVESTOR, PARTNER, AND VISITOR MOMENTUM
  SocialTwist Tell-a-Friend  
   

Lamda Development Driving Future of Sustainable, Technology-Driven Urban Regeneration and Economic Development with New, Master-Planned City of The Ellinikon

ATHENS, Greece, Feb. 8, 2023 /PRNewswire/ -- Lamda Development has broken ground in Athens with piling work now underway at the iconic The Riviera Tower, Greece's tallest building and first ever skyscraper, set to complete by March 2026. The 200-metre Riviera Tower is just one highlight of The Ellinikon, one of the largest, most ambitious urban regeneration projects in the world. A 6.2 million sq.m, sustainable, master-planned smart city on the grounds of Athens' old international airport, the project is setting a new global standard for resilient urban design, smart living and ESG-aligned investment growth opportunities, nearly doubling the amount of green space in the Athens Metropolitan Area and bringing significant economic development. A true 15-minute city built from the ground up, The Ellinikon will deliver residential, commercial, leisure, retail, dining, entertainment, education, and athletics offerings making this Europe's most innovative and exciting destination for locals and international visitors alike.

The Riviera Tower will become Greece's tallest building and most iconic residential destination

Designed by Foster + Partners, the Riviera Tower will feature a collection of one-to-five-bedroom residences and penthouses, offering residents spectacular views as well as easy access to the beach and the 310-berth marina.

"We are at a moment in history when sustainable development and investment need to be bold to meet the need for change in how we conceive of urban experiences," said Odisseas Athanasiou, CEO of Lamda Development. "The Ellinikon will have a transformative effect on both Greece and the world, providing a new benchmark for smart, inspiring indoor and outdoor spaces that excite people, while also significantly advancing sustainability in the places we live, work, and enjoy ourselves for the long term. Despite global economic challenges, we are on track with timings and look forward to completing the first phase in 2026".

This project brings several firsts to Greece, including:

  • The Ellinikon Park, the largest coastal park in Europe, consisting of 2 million sq.m of green space with over 1 million new trees and plants, all native to the local area.
  • The Riviera Tower, Greece's first residential skyscraper and tallest building, which will offer breathtaking views of the park and sea, combining green sustainability with outstanding style as it is pre-certified with LEED v4 BD +C at a Gold Level.
  • The Riviera Galleria, a premium destination in Athens with international couture houses, flagship designer stores and must-have emerging brands as well as fine dining, set against the majestic waterfront view of the Athenian Riviera. LEED Precertification at a GOLD level has been successfully completed for the Riviera Galleria
  • A 185,000 sq.m Commercial Hub, the largest and most contemporary commercial complex in Greece, offering a new philosophy in shopping, working & entertainment and the first mall in Greece to achieve LEED Gold Certification.
  • A 310-berth marina, Greece's first exclusive marina to offer large-scale mooring capacity for mega-yachts situated within the upgraded 3.5 km long coastal front
  • Resilient environmentally sustainable design, featuring a net zero carbon footprint economy via the use of cutting-edge energy conservation strategies and emission-reducing systems. The Ellinikon will be self-sufficient in irrigation and electricity needs.
  • Unique smart features such as electronic vehicle infrastructure, AR navigation, IoT in residential and commercial spaces, and smart water-level sensors for coastal resilience.

Alongside the project's steady construction progress with phase 1 completion expected in 2026, The Ellinikon is being met with significant investor, consumer, and public interest. The first part of the Ellinikon Park that was delivered to the public, The Experience Park, has exceeded one million visits in less than a year. Additionally, The Ellinikon Experience Centre – a unique, impressive visitor centre that allows a glimpse into the future city of the Ellinikon – has become an Athens destination.  

The Ellinikon has partnered with some of the world's leading creative minds, including Foster + Partners, Kengo Kuma & Associates, Aedas and Sasaki architects among others for the design, while world-renowned brands have signed agreements and MOUs to be part of it. Impressively, the project is expected to generate €14 billion in incremental state revenues, 85,000 jobs, and represents approximately 2.4 percent of Greece's GDP.

The two major retail districts at The Ellinikon will combine recognized global brands with high-performing local names which lend a uniquely Greek character to the experience as  vital parts of the new ecosystem. The Kengo Kuma-designed Riviera Galleria will offer a true lifestyle experience surrounded by sophisticated architecture. The Commercial Hub will consist of the largest mall in Greece, a next generation retail park with stores as well as state-of-the-art office spaces at a next generation "hybrid mall". Preliminary agreements have already been agreed for 50% of leasable space. This percentage is expected to increase to 65% within 2023.

For Riviera Galleria 20% of leasable space has already been agreed, expected to reach 50% at the end of 2023.

Also in high demand are The Ellinikon's residential products, which are unlike anything else in Greece and range from green, tech-powered high-rise luxury units to bespoke seaside villas and trendy, modern parkside residences set alongside lush greenery. Interest has been unprecedented in Greece since it launched locally, with first residential products brought to market already selling out, totaling a €1.1 billion buyer commitment. Lamda Development plans to bring further residential offerings to the international market soon.

Other development highlights include The Mixed Use Tower within the Commercial Hub, which will become Athens' new prestigious business address and Greece's tallest commercial building, and the casino resort, a 5-star luxury hotel with world class gaming floor plus meeting and convention spaces.  

The other two hotels include The Marina Hotel, offering lifestyle luxury to visitors who arrive by yacht — or those who are escaping the city for a cosmopolitan stay and The Beach Hotel which will bring together tranquil luxury and seclusion and the year-round dynamics of urban Athens.  

This enthusiasm around the project is also reflected in the development's overfunding for the first five years—and an inspiring part of that funding has been through Lamda Development's €230 million green bond, which was open to the public and received investments from organizations such as the European Bank of Reconstruction and Development. The proceeds of this green bond will fuel sustainability elements such as developing low-carbon buildings, green infrastructures, and greenspace, all of which will work to achieve The Ellinikon's goals of carbon neutrality and self-sufficiency for irrigation and electricity needs.

Poised to become a global model for economic development and sustainable design, The Ellinikon will usher in a new era of smart city living and contribute to the global need for ground-up, environmentally conscious development and a commitment to creating accessible, inclusive, and green spaces.

Photo - https://mma.prnewswire.com/media/1995054/Lamda_Riviera_Tower.jpg
Photo - https://mma.prnewswire.com/media/1995056/Lamda_Development_Ellinikon.jpg
Logo - https://mma.prnewswire.com/media/1995055/Ellinikon_Lamda_Logo.jpg

The Ellinikon, a global smart city and Europe’s greatest urban regeneration project

 

Ellinikon and Lamda Development Logo

 

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/the-ellinikon-one-of-the-worlds-largest-urban-regeneration-projects-breaks-ground-on-riviera-tower-greeces-tallest-building-amid-accelerating-investor-partner-and-visitor-momentum-301740589.html

More News by PR Newswire India

Otr Elkalam: In the world's largest religious competition - A Saudi Opera Singer Eliminates a Voice Coach

The Organizing Committee of Memorial Ceremony to Ancestor Huang Di in his Native Place Held its Press Conference in Beijing

Aramco to expand presence in China by acquiring 10% stake in Rongsheng Petrochemical

BNI® TO HELP ITS MEMBERS DOUBLE VALUE OF THEIR BUSINESS

Syndigo Announces Additional Generative AI Capabilities to its Client Platform

2026 All-Time High in Store for Global 300mm Semiconductor Fab Capacity After 2023 Slowdown, SEMI Reports

Tata Communications brings JAMVEEâ„¢ - an integrated, simplified cloud-based calling solution for global enterprises

38th Annual World Petrochemical Conference: Wanhua Chemical Shares Inspiring and Insightful Practice on Sustainability in Petrochemical Industry

CONNECTING BUYERS, SELLERS TO $1 TRILLION M&A MARKET WITH NEW DEAL DISCOVERY SaaS SOLUTION

Shipping industry can save $50 bn through four enablers of operational efficiency

LyondellBasell and EEW sign LOI for potential advanced waste sorting

Armis Achieves U.S. Department of Defense Impact Level 4 Authorization

The Second International Forum on "Democracy: The Shared Human Values" kicked off in Beijing

Bitget Becomes the First Centralized Exchange to Offer Financial Transparency Through Space and Time

Forever New Launches Exquisite SS23 Collection Featuring Pooja Hegde

Transparent & good governance, inclusive Growth and opportunities for all mark the emergence of New India under the leadership of PM Narendra Modi says Union MoS Rajeev Chandrasekhar

Inkspell set to organize the Video Media (vIdea) Awards & Summit 2023 on 27th April

Indian Low-voltage Switchgear Market Witnesses Surge Due to Pent-up Demand and an Increase in the Average Price

Aramco JV HAPCO to commence construction of major refinery and petrochemical complex in China

GCL System Integration Brings N-Type Innovation TOPCon and Latest BIPV Products to PV EXPO 2023

Aditi Mittal, Director at IndiaBonds and A. K. Group wins Times 40 Under 40 Award

Beamery Announces TalentGPT, the World's First Generative AI for HR

Appian appoints Douglas Coleman as Head of Mexico

Measure the Impact of Mantras on the Brain with the Sadhana app

International Aluminium Institute launches Aluminium Forward 2030 Coalition

Bharat KYC secures 'Fastest eKYC' and QuantPower bags 'Best Algo Trading Platform' Award from NITI Ayog Advisor & Bollywood Diva Bhagyashree

Transcoding and Content Security Workflow Simplified: INKA Entworks's PallyCon and Dolby Hybrik Join Hands for an Integrated Solution

ESG practices towards transformative change for a more sustainable world

Making Open Source Truly Open

The 3rd Conference of Great Business Partners to be held in Shandong

New Cryptocurrency BASALTCOIN set to Launch with a Mission to Revolutionize the Greentech Industry

CGTN: How China keeps its promise to build a community of common health for mankind

CGTN: Analysis: China's economic resilience boosts global recovery prospects

YourStory's TechSparks makes thundering debut in Mumbai: A two-day gala featuring India's top entrepreneurs, investors, innovators, and more

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
2020 Delhi riots: Court dismisses bail p...
Neither Sikhs in India nor Indian diaspo...
Centre reviews public health preparednes...
BSF finds 6 kg of drugs dropped by drone...
India's first cloned desi Gir female cal...
New NCERT textbooks to be developed in 2...
More...    
 
 Top Stories
2nd G20 Infrastructure Working Grou... 
Two SC judges challenge powers of C... 
"People of Bengal have always been ... 
Direct flight between Amritsar-UK t... 
Centre to ready to make policy for ... 
"Will not take back Right to Health... 
Odisha CM Naveen Patnaik asks Centr... 
US: Biden calls Nashville shooting ...