The Ellinikon
A brief history of the vision, the site, and what is being built.
The Site: A Former Airport
The Ellinikon occupies the site of the former Athens International Airport "Ellinikon," which served as Greece's primary airport from 1969 to 2001. When Athens airport operations moved to the newer facility at Spata (east of the city), the 616-acre waterfront property became available for redevelopment.
The location is exceptional: directly on the Saronic Gulf, within the Athens metropolitan area, proximate to Glyfada and Vouliagmeni. It represented Greece's largest urban redevelopment opportunity of the 21st century.
The Vision
Rather than a single-purpose development (residential, commercial, or retail), the vision for The Ellinikon was a complete city. A place where living, working, recreation, culture, and green space coexist. A model for 21st-century urban development: integrated, sustainable, and human-scaled.
The master plan was developed by leading international architects and urban planners. The result is a vision that respects the waterfront, prioritizes green space, and integrates contemporary luxury standards with civic infrastructure.
The Developer: Lamda Development
Lamda Development is a Greek real estate developer with a track record of large-scale, high-quality projects. The company selected to develop The Ellinikon based on its vision, financial capacity, and commitment to the master plan. Lamda is backed by institutional capital and has secured long-term financing for the project.
The development is structured in phases, with infrastructure, retail, residential, and amenities coming online in coordinated stages. This allows the site to grow organically while maintaining quality and vision alignment.
Timeline and Phases
The Ellinikon is designed as a multi-decade project. Phases are coordinated to ensure infrastructure, retail, residential, and amenities open concurrently.
2023-2024: Foundation and Infrastructure
Site preparation, environmental remediation, and infrastructure development. Public works include roads, utilities, and the cycling network foundation.
2024-2027: Phase One Retail and Residential
The first wave of retail facilities, branded residences, and luxury apartments. Entertainment venues and dining establishments open. The marina begins operations.
2027-2030: Phase Two Expansion
Additional residential towers, offices, and amenities come online. The park system reaches full build-out. Cultural institutions and education facilities open.
2030+: Completion and Maturity
The full 616-acre ecosystem is complete. The Ellinikon transitions from construction to steady-state operation as an established urban destination.
The Future
The Ellinikon represents more than real estate. It is a statement about how cities evolve. It demonstrates that large-scale, coordinated development can serve both economic and civic interests. It shows that luxury and sustainability are compatible. And it proves that Mediterranean waterfronts can be developed with vision and restraint.
For Greece, The Ellinikon is a flagship project. It attracts international capital, showcases Greek architecture and development capability, and transforms the Athens Riviera into a world-class destination.