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Hellinikon: here is the first 5-year plan for new buildings and infrastructure



With a colossal construction program that combines the creation of infrastructure, a part of the Metropolitan Park and important building complexes, Lamda Development plans to proceed to the first phase of the large investment for Elliniko.

This year’s General Assembly of SEGM was attended by Mr. Dimitris Zontanos, who is Chief Planning and Construction Officer of the company, and he made a detailed presentation of the construction plan of the first phase.

This first phase, which is expected to be completed in five years, includes the coastal front in the area of ​​Agios Kosmas and together with the Marina, the western development of the Metropolitan Park, which is approximately equal to 33% of its total area (when it is completed), houses and the first commercial pole on Vouliagmeni Avenue.

Part of this is the creation of a road that will start from Poseidonos Avenue and will end at Vouliagmeni Avenue, connecting the two major axes of the southern suburbs. This road, which will be an internal road within the investment area and will be mainly for pedestrians and cyclists, was mentioned last week in a speech by the CEO of Lamda Development, Mr. Odysseas Athanassiou.

The large building projects

The Towers

Mr. Zontanos, referring to the investment, estimated that the tender will be completed by the HRDH in the first quarter and then we will move on to the construction period.

The major building projects that will be developed by Lamda in the first five years, as described by the company representative but also according to further information are the following:


The Tower in Agia Kosma Marina, about 200 meters high, an important landmark with a building area of ​​about 45,000 sq.m, will dominate the coastal zone while in the same “neighborhood” will be built a shopping center of 30,000 sq.m. There is also a five star hotel also 200 meters high.

On Vouliagmeni Avenue, two more Towers are foreseen, which due to the altitude difference will be 140-150 meters and will function as office spaces as well as a luxury hotel.

There is another tower about 200 meters high on Poseidonos Avenue that will function as a mixed use building. It is located next to the urban islet of Kato Elliniko, at the end of a walkway that connects Poseidonos Avenue with Vouliagmeni Avenue.

Casino and Aquarium

In addition to these large buildings, the IRC (Integrated Resort Casino) will be constructed by the Mohegan-GEK TERNA consortium, which concerns a building complex where the main building will be approximately 200 meters high. In total, we are talking about six skyscrapers. This is an additional independent investment of 1 billion euros.

One of the landmarks of the area of ​​Agios Kosmas, of all the investment but also of the capital as a whole, will be the construction of the aquarium-center of marine research 7.00 sq.m. The area will be called “Agios Kosmas Aquarium Neighborhood”.


In the first phase of construction, about 800 houses will be built. Some houses and villas will be in the area of ​​Agios Kosmas Aquarium on the outskirts of the park. (detached houses, residential-apartment complexes with a maximum height of 11 meters 43,500 sq.m.). A total of 10,000 buildings will have been constructed throughout the investment area upon completion of the construction.

Residential complexes up to 50 meters high of approximately 40,000 sq.m. will also be constructed on the west side of the investment.



It is to be reminded that a month ago the agreement was sealed with TEMES, which will acquired the hotel that will be located on the marina as well as the also luxury hotel complex on the other side of the coastal area, which is adjacent to the area of ​​luxury homes. The last two projects will be developed by one company and the marina hotel by another. In both companies, TEMES will hold 70% and Lamda Development, which is the concessionaire of the entire area of ​​Elliniko, 30%. The total investment is estimated at 300m euros.

Also, most of the spaces for sports uses (open-closed gyms, swimming pool) and accommodation spaces for clubs for the disabled will be constructed.

The major constructions include the restoration and promotion of all the listed buildings of the investment with the Saarinen building as a reference point (the terminal at the old east airport of Athens) which will become an exhibition center.

Infrastructure projects

Studies are currently underway for the infrastructure projects that will run in the first decade. We refer to the projects of creation of utility networks, creation of building blocks, network of roads, sidewalks, bicycle paths, the remodeling and promotion of the beach of Agios Kosmas etc.

Among the projects of the first five years is the large technical project of the bypass and undergrounding of Poseidonos Avenue in order to unify all the investment and especially the Metropolitan Holistic Park.

It is noted that the tram line that passes through the area remains and its role is upgraded as it will offer access to one of the new hot spots of the capital. In addition, there will be a new line that will connect Poseidonos Avenue with Vouliagmeni Avenue through the investment.

One of the important infrastructure projects is the protection of the mouth of the Trachonas stream, the upgrade of the Marina of Agios Kosmas with a total area of ​​334,854 sq.m.


Finally, the construction of a center for the sorting of recyclable materials and the waste management of the investment area is foreseen, as well as the construction of a biological treatment plant from which part of the Metropolitan Park and other green spaces will be irrigated.






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