The countdown to work on the largest urban renewal project in Europe has already begun.
On Friday 25 June, the department’s first installment of 300 million euros will be paid to Ελληνικό Δημόσιο, together with a letter of guarantee ΤΑΙΠΕΔ (State Property Development Fund of Greece) in the amount of 347 million.
The aim is to create a modern, green, digitally modernized city that perfectly combines social space and ecology (one without the other) that will highlight the cultural heritage of Greece. It will be a new place for entertainment, relaxation, walking and sports, accessible to everyone.
Lamda Development will lead the project, as recently highlighted, as Elliniko will spur the growth of the Greek economy and transform Greece’s position on the global investment and tourism map, integrating cutting edge technology and urban design and architecture principles.
The first 9 projects to be implemented
According to Lamda Development’s plans, the following projects will be launched:
Most of the municipal park with an area of 2,000,000 sq. M. Athletic facilities. Embankment. The largest shopping center in Attica with commercial space of 72,000 square meters, which is 20% more than the shopping center in Maroussi. The mall will be built in close proximity to the Elliniko metro station, on Vouliagmenis Avenue. The office premises and the hotel will be located within walking distance from the shopping center, on the northern side of the Elliniko area, near Vouliagmenis Avenue. A gallery (Galleria) will be built near the marina in Agios Kosmas. Two hotels in the coastal area. 800 houses of various types (apartments, mansions, etc.). Skyscrapers are about 200 meters high.
The start of work on the transformation of Elliniko will give an impetus to the development of the Greek economy, as it will create 10,000 jobs in the initial stage. Recall that the project has been implemented for a long time, since, as noted, preparatory work has been going on for several months… The demolition of old buildings was started, and previously all living creatures (foxes, turtles, cats, etc.) were evacuated from here.
Skyscrapers up to 200 meters high will give metropolitan Athens a completely new and modern look. Three more buildings for special architectural purposes will also be erected – a shopping center, Marina Hotel, and an oceanarium. In addition, a universal multifunctional entertainment center, a casino building and a tourist complex will appear on the territory of Elliniko.
According to an IOVE study and an estimate by Lamda Development executives, the project is expected to create over 70,000 jobs in the area during and after construction, including permanent and temporary jobs. Working hands are needed both for the construction of objects and after it – for the maintenance of hotels, casinos, luxury residential complexes, shopping and conference centers, an aquarium, golf courses, sports facilities, a marina and other infrastructure. All recruitment notifications announced by Lamda Develoment will be made with full transparency, regularly updated and communicated in a specially crafted mobile application.
According to experts, the unique multifunctional project of Elliniko will contribute to the growth of the country’s GDP by 2% and will have a positive effect on all sectors of the economy and society.