Lamda Development has broken new ground in Athens with work now underway at the iconic Riviera Tower, Greece’s tallest building and first ever skyscraper.
Set to be completed 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.
The Ellinikon is a 6.2 million square metre smart city planned for 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.
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. It will make us reimagine sustainability in the places we live, work, and enjoy for the long term. Despite global economic challenges, we are on track with timings and look forward to completing the first phase in 2026”.
The Ellinikon project brings several firsts to Greece, including:
- The Ellinikon Park, the largest coastal park in Europe, consisting of 2 million square meters 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 square meter 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.
- 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.
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 which provides visitors a glimpse into the future city of the Ellinikon has become a go-to 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. 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.
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.
