Lamda Development - Press Release- The Ellinikon Masterplan

PRESS RELEASE

Lamda Development presents the masterplan of the major regeneration at The Ellinikon & the area-transforming developments

The Park, the new coastal front, the public utilities infrastructure, the sports and cultural facilities are among the developments of the first five years

Athens, 9 November 2021– Today, Lamda Development presented the vision and the masterplan for the major regeneration at The Ellinikon, as well as the developments to be completed by 2025. This is the third online presentation of the company to inform the public about this iconic project that will transform the old airport into a city of the future and a global point of reference.

[See the online presentation here]

“The Ellinikon is underway, and a large part of the project will be ready by 2025 so that all citizens may proudly enjoy it. This area, that is currently difficult to access and cut off from the urban fabric, will be transformed in the coming years, -exclusively with private funding- into a modern green city that we will all be able to visit and enjoy. The Ellinikon is the first area in Greece to be developed from the outset as a smart city with advanced infrastructure and innovative technologies, and it was designed to be environmentally sustainable and resistant to climate change,” the CEO of Lamda Development, Mr. Odisseas Athanasiou, said during the presentation.

“The Ellinikon is changing the architectural and urban-planning philosophy of Athens. The key principles of our planning are the prioritization of green and open spaces; easy access to modern infrastructure that includes schools, sports facilities, health and welfare services, as well as entertainment and recreation facilities; the implementation of strict principles concerning environmental planning; and the connection with the surrounding areas so that The Ellinikon may be easily accessible to everyone, wherever in Attica they may be,” stressed Lamda Development Chief Planning & Construction Officer, Mr. Dimitris Zontanos.

The presentation was coordinated by journalist Katerina Panagopoulou.

Infrastructure projects of over €500 million that will also benefit neighboring areas

Aiming to create a modern city that will be environment- and citizen-friendly, Lamda Development is planning and will fully finance public utilities infrastructure that will serve the residents of both The Ellinikon and the neighboring areas.

Green spaces – sports and cultural venues

Environmental protection and the creation of green spaces are a priority in The Ellinikon masterplan. More than 70% of the total 6.2 million sq.m. area will be covered by parks, lakes, gardens, communal and open spaces for activities, while communal and public use spaces will occupy more than 50% of the surface area in residential zones.

The ‘greenest’ part of the project, part of which will be developed by 2025, will be The Ellinikon Park. It occupies over 2 million sq.m. and will be one of the largest coastal parks in the world, open to the public. The Park has been designed taking into consideration the biodiversity of the area and its irrigation and power needs will be fully met through advanced technological solutions.

A state-of-the-art Sports Center, open to all the residents of Attica, will be constructed in the Park. The Center will have facilities for track and field sports, swimming, soccer and gymnastics, a field for throwing sports, an indoor gym, accommodation facilities for athletes, as well as soccer, basketball, tennis, beach volley and gymnastics academies. These facilities may also host major sports events.

The coastal front as an international destination

Lamda Development’s planning for the regeneration of The Ellinikon coastal zone will showcase the unique natural beauty of the Athens Riviera, as well as its significant potential to become a top international all-year tourist destination.

The Ellinikon has begun – Planning

The works for the regeneration of The Ellinikon are underway and the highest international standards apply to all stages of development. Specifically:

• Studies for the Park and the sports facilities are already underway
• The construction works for the new building where four associations providing care to people with disabilities, a 11,000 sq.m. complex, will begin in 2022. The works for the upgrade of the Agios Kosmas marina and the beach, as well as the construction of the Marina Tower, will also begin soon.
• The construction of the Marina Galleria and the coastal residential and other complexes in front of the Park is scheduled to begin in 2023. The works for the Mall complex at Vouliagmenis Avenue, as well as for the mixed-use tower in the same area, are also scheduled to begin shortly.

The vision of Lamda Development is to deliver to citizens, in the coming years, a city of the future, a place where they will want to live and work, a destination they will want to visit.  

About Lamda Development

Lamda Development, listed on the main market of the Athens Exchange, is a holding company specializing in real estate development, investment, and management. The company plays a leading role in the sector of large commercial and leisure centers in Greece, with successful diversification in office and residential developments. Lamda Development’s portfolio includes three commercial and leisure centers (The Mall Athens and Golden Hall in Athens and Mediterranean Cosmos in Thessaloniki) with a total GLA of 157,000 sqm, office buildings, residential complexes and Flisvos Marina in Faliro. Lamda Development has undertaken the integrated metropolitan redevelopment of the area of the former ‘Hellinikon’ airport, which will be the largest private investment in Greece and the largest urban redevelopment project in Europe. The company is a member of the Latsis Group.

https://www.lamdadev.com/en/

https://theellinikon.com.gr/en/

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