Elliniko: When will Vouliagmenis Mall and Riviera Galleria be ready?

The management of Lamda Development spoke about the progress of work in Elliniko, commercial developments, the overall budget and the start date of construction.

Preparatory work is ongoing on The Ellinikon Mall, the largest shopping mall to be built in Greece, and construction work on the Riviera Galleria is expected to begin immediately. Lamda estimates that the construction of the Ellinikon Mall, as Vouliagmenis Mall is now called, will be completed in the last quarter of 2027.

At the moment, the first projects are being implemented, including the excavation works carried out by the company “Actor”, and in the next period it is expected that they will be completed and the main construction project will be handed over to the contractor. According to Lamda CEO Odysseas Athanasiou, this will be done by November.

The 280-store Ellinikon Shopping Mall, designed by international architecture firm AEDAS, will become the largest shopping mall in Greece (50% more than The Mall Athens in Maroussi) and one of the largest in Southern Europe.

It is noted that at the moment, almost three years before the completion of construction, subject to the schedule, the lease of 70% of the total leased area of ​​90,000 sq. m of the shopping center has been agreed.

Lamda's goal is to lease out 83% of the shopping center by the end of this year, which, it should be noted, was redesigned in the part concerning the creation of officesThese areas will be converted into retail stores, given the current high demandAccording to available data, the 90,000 sq.m. of rentable area has now been increased to 100,000 sq.m.

Riviera Galleria, a shopping and entertainment complex on the seafront, is being built designed by leading Japanese architect Kengo Kuma and Associates, it has a total development area of ​​approximately 23,000 sq.m.

The shopping centre, designed in collaboration with the Greek design firm BETAPLAN, consists of three two-story buildings that form a complex of commercial stores, service stores and recreation areasas well as underground spaces for auxiliary use, as well as open parking. The construction period is estimated at 26 months.

Of the 100 Riviera Galleria stores, 62% of the total leasable area (GLA 19,000 sqm) has already been agreed upon, with the aim of reaching agreements for 75% by the end of 2024.

The total budget for the shopping areas of The Ellinikon Mall and Riviera Galleria, as disclosed by Lamda, is 1.052 billion euros and is based on initial estimates.

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