The Ellinikon Project, developed by Lamda Development S.A., is a large-scale urban transformation initiative situated on the former Athens International Airport site, approximately 20 minutes from central Athens. This €8 billion (about $8.7 billion) development covers 6.2 million square meters, making it the largest urban regeneration project in both Greece and Europe. The site historically served as an airport from 1938 to 2001 and was later used for Olympic events in 2004.
Lamda Development S.A., a Greek real estate firm, secured rights to redevelop the area in the aftermath of Greece’s economic crisis. The project’s ambition is to create a new “15-minute city,” with the infrastructure designed for residents and visitors to access amenities within a short walk or bike ride. The Ellinikon includes a vast 2-million-square-meter park—one of the world’s largest coastal urban parks—thousands of residential units, luxury villas, offices, shopping centers, educational and cultural spaces, a 1-kilometer public beach, and new transportation networks.
The project employs international architectural firms such as Foster + Partners, Kengo Kuma, Bjarke Ingels Group, and Sasaki, alongside prominent Greek architects. Notable features include the Riviera Tower, set to be the tallest skyscraper in Greece, and the Ellinikon Park, which will double Athens’ green space per capita. Private financing, sustainable construction techniques, and public accessibility are central to The Ellinikon, which is scheduled to complete its first phase in 2026 and is expected to generate thousands of jobs and contribute significantly to Greece’s GDP.