Lamda Development’s confrontation with the municipalities of Glyfada and Alimos, which are adjacent to the projects in Elliniko, is growing. They are considering filing a new appeal with the Council of State to clarify whether or not the benefits of the New Building Code that was ruled unconstitutional by the Council of State are valid. The issue is crucial for the project concessionaire’s revenues since if the pending appeal is accepted, it is estimated that the buildable areas in Elliniko – for projects that had not started before the decision of the Council of State – may be limited by tens of thousands of square meters. Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox. 2025Elliniko Eatery co-owners Ioannis Patrios (left) and Anthony Savas (right) bringing traditional Greek food with a “small shop When Ioannis Patros and Anthony Savas think of Greek hospitality “I notice that hospitality is a big deal there,” Anthony says “People are proud to be a waiter at a restaurant; people are proud to be a manager or people are happy to just be involved in the gathering of a place and just to serve “I know people come and eat and that’s a big part of why people go out in the first place to feed their bellies and we want to make you feel as comfortable as possible “That’s just a friendly reminder every time I go back.” Along with wanting to make people feel comfortable they say the Greek hospitality scene is solely centred around food Everything we do – even if you go to a friend’s house for a visit the table is going to be full,” Ioannis says they plan to implement these Greek-style hospitality traits into their upcoming Greek eatery “Both of us actually went to Greece last year… I went to a lot of call it yiros houses or yiros restaurants A lot of them that I bumped into were very upscaled and elegant,” Anthony says timeless colour scheme – what we’re trying to achieve here “And I thought this would be really cool in Adelaide As the pair both respectively come from the Dodecanese Island the interior choices will be inspired by eateries near that region all those islands that everyone might know if you think of Greece,” Anthony says “But we come from the Dodecanese… and a lot of those islands are that really beautiful We just feel like that’s absolutely timeless “We feel like it needs to be that really nice elegant takeaway that people will walk in and go ‘oh wow the shop looks beautiful’ before they’ve even tasted our food we just instantly said ‘we need that to be in our shop’ it’s got that really nice Mediterranean style finish and it’s just nice to look at.” they offer a range of traditional Greek dishes like chips and pita Subscribe for updatesThe meat is sourced directly from farms to go “above and beyond” and “bring that unique flavour back” at Elliniko If you buy it from Coles or Woolies and then you buy straight from the farm it’s going to be totally different,” Ioannis says “Because the big boys want to get cheap stuff to make a profit The yiros will be a main feature on the Elliniko Eatery menu but there’s no lettuce option,” Ioannis says I think when yiros became prominent here in whatever decade that was I think they put lettuce in yiros,” Anthony replies “It’s not like it’s terrible; it’s just not traditional The location is in a shop complex on Unley Road – the same area as Abbots and Kinney and BFT – which was the selling point for the duo when deciding to open Elliniko Eatery but getting the micro-locations right as well,” Anthony says They cite accessible car parking as a main draw card as they “don’t want people to be discouraged from travelling anywhere around Adelaide to come see [them]” “Some of the best places are in the CBD – particularly from a hospitality or bar experience – but sometimes it is a bit off-putting if you have to walk 15 And we wanted to be in a popular suburb which would cater for what it is we’re trying to do.” Elliniko Eatery is located at Shop 6 283-285 Unley Road Subscribe for updatesConnect with the business on Instagram for more. InDaily South Australia acknowledges the Traditional Owners of country throughout South Australia and recognises their continuing connection to land, waters and culture. We pay our respects to their Elders past, present and emerging. Copyright ©2025 InDaily. All rights reserved. Athens, Greece – Lamda Development announced today a major land sale within its ambitious Elliniko project, inking a deal with Skriti Enterprises Company Limited, a company owned by the family of shipping magnate George Procopiou. The agreement paves the way for a substantial development encompassing residential, office, and educational facilities, estimated to reach a total investment value of €500 million. Skriti Enterprises acquired the plots, strategically located opposite the Glyfada Golf course, for approximately €120 million. The land boasts a generous maximum building area of 85,658 square meters, offering significant development potential. While specific details regarding the project remain under wraps, Lamda Development confirmed that the development will include a mix of residential and office spaces, catering to the growing demand in the area. Notably, plans also feature the establishment of an educational institution with an international program, further enhancing the appeal and diversity of the Elliniko project. This latest deal marks another significant milestone for Lamda Development’s flagship Elliniko project, a massive urban regeneration initiative set to transform the former Athens airport site. The project continues to attract considerable interest from both domestic and international investors, solidifying its position as a key driver of economic growth and development in Greece. Elliniko Apostagma, the tasting event for all Greek alcoholic drinks, is taking place this Sunday, January 19, for an eighth time at the Stavros Niarchos Foundation Cultural Center in Kallithea from 11.30 a.m. to 8 p.m. There will also be parallel masterclass events. Find out more at vinetum.gr.  The MIPIM award-winning Ellinikon Commercial Hub is located in a prime location in Athens Transformed from the former Athens International Airport the hub is slated to become a contemporary mini-city comprises the new state-of-the-art commercial leisure and business destination that will extend to more than 185,000 sq m on Vouliagmenis Avenue The Commercial Hub consists of the largest mall in Greece a next generation retail park with big-box stores an iconic mixed-use tower houses a hotel and apartments It is a pioneering ecosystem that introduces a new lifestyle philosophy in shopping and entertainment Aedas Global Design Principal David Clayton says ‘The mall is well-connected to become a social and cultural centre of Hellinikon A mall that transcends being a place to shop to being a heart of a community is ultimately a mall that will have a long and successful life.’ The design calls for a timeless landmark that is innovative and dynamic with strong visual presence captivating the visitor at first sight The architectural style adopts the new interpretation of blending contemporary The seamless circulation design maximises the synergies between different but complementary uses so that the transition between indoor mall and outdoor streetscape becomes a commercial opportunity to provide alfresco dining and outdoor recreational areas – all responding to the local climate modern Athenian family and international tourist needs The Ellinikon Commercial Hub is filled with ample public space open and spacious design for events and exhibitions large atriums and roof decks for promotional activities An outdoor amphitheatre provides a space for commercial and cultural activation The F&B Street is available beyond regular business hours of shopping malls to enhance the liveliness of the place The green valley arises from the Agora on lower ground floor and climbs up to the podium rooftop introducing a double loop of semi-open circulation paths to various green communal spaces An integral part of the unique design pays respect to the environment and sustainability guaranteed by the accredited Environmental Assessment and Certification Systems (LEED) Energy efficient systems are used to reduce energy consumption following the European energy performance in buildings directive Global Design Principal Christine Lam adds where plazas and green precincts are prominent The perfect integration of contemporary architecture and nature make you feel like stepping into an urban oasis.’ Discover a fresh take on Greek cuisine with a modern twist and vibrant design for an unforgettable dining experience Photo credits: Anastasia Savvas | Eat Me Social & Alexander Mogavero – Interstellr Get ready to say “Opa!” because Elliniko Eatery is about to spice up Unley Road with a fresh twist on Greek cuisine this new hotspot is bringing the heart and soul of Greece to Adelaide with a delicious mix of tradition and modern flair welcoming Greek hospitality paired with a contemporary vibe Whether you’re here for a casual bite or a special celebration Elliniko promises to deliver an unforgettable Greek dining experience that will have you feeling like you’re on the charming streets of South Aegean “The location wasn’t even on the market that’s exactly what happened,” loannis laughs “We were lucky to be in the right place at the right time we knew it captured the essence of what we wanted just like those hidden gem food spots tucked away on the side streets of Greece.” with plenty of parking and a neighbourhood that perfectly fits our vision.” “It was one of those moments where you stop looking We knew instantly that this was the space we were meant to have.” Forget the usual blue and white decor you might expect at a Greek restaurant the design takes inspiration from modern eateries in Athens and subtle Mediterranean influences.  loannis and Anthony use the word “filoxenia” to explain their passion for this new restaurant In Greek it is φιλοξενία and it translates to “hospitality,” but its deeper meaning refers to the ancient Greek concept of showing kindness and generosity to guests or strangers It’s a core value in Greek culture and a key element of the Elliniko Greek dining experience “From a friendly greeting to hearty portions and thoughtful touches we’re creating an experience that feels just like dining in Greece where strangers quickly become friends and everyone is treated like family.” “We want every guest to feel truly welcomed from the moment they step inside,” says Anthony The menu at Elliniko is where the real magic happens offering a mix of traditional Greek dishes with a little something extra “Makaronia me kima will definitely be a crowd favourite,” says loannis “It’s one of those comforting dishes that take us all back to our childhood our traditional yiros always wins over the crowd One thing to love about Elliniko is their commitment to sourcing only the best “We source our meat directly from local farms ensuring we’re serving only the highest quality cuts “This approach brings an authenticity to our dishes that really reflects the heart of Greek home-style cooking.” no Greek restaurant would be complete without an epic yiros “Our yiros stands out with perfectly cooked pita and house-made dips that are bursting with flavour,” loannis explains “It’s the kind of yiros you’d find on the streets of Athens—no lettuce herb-marinated yiros meat served with tomato We recommend tzatziki for the full experience.” The owners’ deep connection to the Dodecanese Islands a group of Greek islands in the South Aegean is reflected in many of the dishes at Elliniko “We wanted to honour our roots and share the flavours of our families’ homeland,” says Anthony with dishes that are simple yet full of flavour as the restaurant will be introducing more Dodecanese-inspired dishes in the months ahead our motto is simple: have fun and enjoy the journey,” says loannis and we want to amplify that experience with great food and genuine service.”  Elliniko Eatery Where: 6/283-285 Unley Rd, MalvernFor more information >> elliniko-eatery.com.au A luxurious new Qantas Business Lounge is set to open at Adelaide Airport in.. 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Residents of Adelaide can anticipate mixed weather conditions over the next few days Glam Adelaide is a news website dedicated to bringing you the best of South Australia we pride ourselves in supporting local business We would like to acknowledge the Kaurna people as the custodians of the lands and waters of the Adelaide region Get the latest SA news for free via our iPhone app here: https://apps.apple.com/au/app/glam-adelaide/id1626204930 Get the latest SA news for free via our new Android app here: https://play.google.com/store/search?q=glam+adelaide&c=apps&hl=en&pli=1 Glam Adelaide has today launched an app for readers all over SA Stephy has announced its closure after six years of.. will offer an approachable wine experience Experience the elegance of South Australia in the heart of London at Sparrow’s Nest,.. Experience the art of matcha with a unique tasting flight that lets you explore.. This small business owner is reinventing the wheel either observed and verified firsthand by the reporter or reported and verified from knowledgeable sources Translations may contain inaccuracies—please refer to the original content Construction has begun on a "smart city" three times the size of Monaco which its developers hope will become a prototype for sustainable development across the world Costing a total of €8.5 billion and covering an area of around 6.2 million square meters Ellinikon is one of the largest urban development projects on the globe today the project will combine thousands of permanent residences all built surrounding a 600-acre public park While framed by its developers as an paradigm of smart and sustainable urban planning some experts have cast doubt on whether Ellinikon can meet these lofty aspirations have called the project "Europe's largest sustainable smart city," they mean a city – in this case within another city – that is designed and built with both its inhabitants and the surrounding environment in mind "The project is being developed with a focus on smart sustainable city principles," Lamda said "incorporating the most advanced technologies and carbon neutral practices." Linked to this is the idea of what Lamda termed a "zip code paradise," or "15 minute city." "It's a genuine 15-minute city within a city designed to ensure that all residential areas and health services are all easily accessible within a short walk," Lamda told Newsweek one of Greece's largest real estate investors won the government bid to redevelop the abandoned Hellinikon airport on the Athenian coast Lamda said that due to the country's economic crisis development rights were not formally transferred until 2021 which includes the creation of a new public beach transport infrastructure and residential developments is expected to complete by late 2026 to early 2027 When asked how it intends to source the €8.5 billion total investment needed for the entire Ellinikon project Lamda said that the project was self-financed with a great deal of the necessary capital coming from pre-sold residences at Ellinikon 60% of Ellinikon's "Little Athens" neighborhood a recently announced district with approximately 1,115 residences which go for an average price of €3.6 million which will span around 2 million square miles preliminary agreements have already been signed for 70% of leasable space "Market demand for the residential and commercial spaces launched to date has far exceeded supply with over 8,000 potential buyers currently on a waiting list," Lamda told Newsweek Company Hard Rock is also investing €1 billion to develop a resort and casino at Ellinikon budget and impact," Lamda described Ellinikon as Europe's "greatest urban regeneration project." the new smart city will also boost Greece's GDP by 2.4% draw in an additional one million tourists to Athens annually and contribute over €14 billion in tax revenues According to a statement from Lamda, "after a decade-long economic crisis that wiped off a quarter of the country's GDP Ellinikon serves as a testament to Greece's resurgence post-debt crisis and renewed investor enthusiasm." The project has also been built with sustainability in mind and the 600-acre public park at the centre of Ellinikon will "increase amount of green space in the Athens metropolitan area by 44%." Lamda said it intends for Ellinikon to "serve as a prototype for responsible development that can be replicated globally." Ellinikon is one of many megadevelopment projects trying to frame itself as at once smart Neom, the much-vaunted brainchild of Saudi Prince Mohammed Bin Salman was similarly pitched as the future of urban living work on the megaproject – and its flagship 105-mile linear city The Line -has stalled due to mounting costs and engineering difficulties raised by the unique demands of its construction Newsweek spoke to infratsructure experts regarding Ellinikon and asked whether the developers were being similarly naïve about the feasibility and impact of their smart city Loretta Lees is the director of Boston University's Initiative on Cities a research center focused on urban transformations Regarding potential development blind spots, Lees said: "Given the extreme heat that Athens is experiencing there is little to no thought on how such developments can mitigate this - a massive flaw and indeed an economic risk for the developer," Lees also called the Ellinikon "yet another example of the mega-gentrification projects that are erupting around the world," when asked about how its high-value properties might impact the rest of the Athenian housing market "It may well act as a beachhead like many such projects do for gentrification around it and along the coast," Lees added "Even if it does not directly displace people it will no doubt indirectly displace people a lecturer at University College London's Bartlett School of Planning and Architecture reinforced by international economic pressures such a luxury development could do more harm than good while the planning and political situation is highly unlikely to extract much from the scheme for the benefit of the more deprived parts of the city," Edwards said Newsweek also spoke to Phoebe Koundouri, president of the European Association of Environmental and Resource Economists and chair of the United Nations Sustainable Development Solutions Network Global Climate Hub Koundouri said: "The Ellinikon project is a major urban regeneration project by any measure and truly has the potential to be a shining example of the transformative power of urban regeneration done right." Koundouri lauded Lamda for their "effort to incorporate the key tenets of sustainability" into Ellinikon "The project will in fact to a large extent provide much needed urban green space for the city and its buildings and infrastructure are designed to the highest standards of environmental sustainability." "Without a doubt the utilization of a brown-field site which has been lying fallow for several years will not only add value to the area but also attract much needed investment to the Greek economy it is clear that every effort has been made to respect the natural environment." Koundouri issued similar warnings about the economic risks of Ellinikon there are the risks associated with gentrification and concerns about whether locals will continue to be able to afford to live in the area with surrounding property values predicted to undergo a major hike the infrastructural pressure that comes with building what is essentially a new city within the metropolitan region of Athens is immense," Koundouri told Newsweek Do you have a story we should be covering? Do you have any questions about this article? ContactLiveNews@newsweek.com Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground Newsweek is committed to journalism that's factual and fair Hold us accountable and submit your rating of this article on the meter. Newsletters in your inbox See all The state has approved extensive changes to the investment plan at Elliniko for the umpteenth time in which the planned small marina almost disappears and the free-entry beach at Agios Kosmas shrinks by 150 meters The development of the former airport at Elliniko and the beach of Agios Kosmas continues to be an unprecedented case in Greek urban planning not only due to the extent of the intervention but also due to the countless a la carte amendments to the legislation and the approved planning Last April the 23rd amendment to the legislation for the investment at Elliniko was approved while the joint ministerial decisions with which the planning for the individual parts of the investment has already been approved are constantly being amended There is also a series of changes that were approved by a new ministerial decision which was published on Thursday in the Government Gazette The changes all concern the coastal front: • The small marina is reduced to a quarter of the size which had been approved compared to 113 in the design approved in 2019 the needs for embankments and other technical works planned to protect the boat shelter are drastically reduced • The embankment on which the aquarium will be built is reduced from 16,500 to 5,000 square meters • The Trachones stream is extended into the sea • The long beach of Agios Kosmas is reduced by 150 meters to 750 m which exist today and the plan provides for their filling • In the open spaces of the marina and aquarium zones where in 2022 the addition of a helipad was permitted 20% is allowed to be converted into outdoor parking spaces To the rest are added a series of new uses such as temporary structures for organizing events temporary facilities such as amusement parks and ice rinks structures for parking bicycles and micro-mobility vehicles Enter your information below to receive our weekly newsletters with the latest insights opinion pieces and current events straight to your inbox The urban regeneration project under way in Εlliniko is making continued progress in both infrastructure and buildings Work is already under way on 14 different projects in collaboration with 12 different developers while work has now begun on all the residences that have been put up for sale capital expenditures for buildings and infrastructure projects amounting to 248 million euros were made with the amount of total capital expenditures from the start of the project until December 31 Lamda Development announced that it has signed a purchase and sale contract with Skriti Enterprises Company Limited owned by the family of shipping magnate George Procopiou for the sale of plots at Lamda’s Elliniko project for the purpose of developing residential and office spaces as well as an educational institution with an international program The total price of the transaction amounts to approximately 120 million euros while the total investment of the development is estimated to amount to €500 million The plots are located opposite the Glyfada Golf course and the total maximum allowed building area is 85,658 square meters Lamda Development has received income of a total of 140 million euros from the sales of properties in its portfolio in order to finance the investment in the area of ​​the former Athens airport at Elliniko of land totaling 2.7 square kilometers (1.4 sq.km an amount of €6.8 million will be paid for the full repayment of the loan of the company that owns the area It was preceded last March by another sale in Serbia all of them domestic companies – as was also the case with the Riviera Tower project – will try to land the contract for building the Ellinikon Mall the development’s largest building project after the Integrated Resort Complex of the GEK Terna – Hard Rock consortium The contract for the Ellinikon Mall on behalf of Lamda Development is The latter has already undertaken and is proceeding with the construction of Lamda’s other shopping center at Elliniko covering 20,000 square meters on the coastal front of the former airport property METKA is also participating in the sports facilities project there Avax is constructing the infrastructure works and the undergrounding of Poseidonos Avenue When the new shopping center is operational it will be by far the largest in the country Market sources estimate the construction cost of the project at between 500 and 550 million euros while it is believed that it will take about two and a half to three years to complete The Ellinikon Mall will be a shopping center with a gross leasable area of 100,000 sq.m. heads of terms (HoT) had been agreed with tenants for 63.6% of the total gross leasable area (GLA) It is recalled that the Ellinikon Mall complex will no longer include office uses following the decision of Piraeus Bank not to activate the memorandum of understanding it had signed with Lamda Development for the relocation of its new head offices to the specific property The Ellinikon Mall and Riviera Galleria will be the two development projects of Lamda Development as residential developments are essentially self-financed The initial target of the group’s management was to raise part of the required funds through a capital increase and the listing of Lamda Malls shares on the Athens Exchange The cooperation between shipowner George Procopiou and Lamda Development will be of a strategic nature after the acquisition of a 2% stake in the listed company’s share capital for an amount of 25 million euros Procopiou will be the one who will finally proceed with the purchase and development which was originally intended for the construction of a new school by Athens College After the unanimous decision by the board of directors at Athens College not to finally proceed with the creation of new facilities in Elliniko who was initially considered to be one of the financiers of the project will himself take advantage of the specific area People who know of the plans George Procopiou had for the financing of the development and operation of the College of the Hellenic-American Educational Foundation in Elliniko commented on Monday that “apparently Procopiou is continuing the plan he believed in from the beginning and had committed to finance for the development of an iconic private school in the southern suburbs.” The area to be acquired will be 220,000 square meters and it is expected that an educational institution with an international curriculum will be developed The maximum area allowed for building is 86,000 sq.m Procopiou’s initial discussions with Lamda and its main shareholders of land and a construction factor for 30,000 sq.m a significant part concerned higher education facilities Procopiou’s collaboration with Lamda Development will be sealed with the acquisition of 3,534,734 of the company’s own shares this is an amount that is also a significant premium the company’s shares were trading around €6.3-6.4 euros The final agreement between the two sides is expected to be completed within the next month This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page a 4th-century BC funerary monument has returned to its original location in Elliniko Removed in the 1960s by archaeologist Vassilios Petrakos to protect it during airport construction the pi-shaped stone structure was recently reinstated by LAMDA Development Architect/engineer Dimitris Korres oversaw the meticulous three-month relocation process employing innovative techniques like 3D imaging to ensure the monument’s preservation during transport which purportedly gave the area its name during Ottoman rule (as explained in the linked video) will be a key feature of a cultural path within The Ellinikon urban renewal project A 160-meter semicircular tunnel appears to have been mistakenly excavated during ongoing work to built Metro Line 4 in Athens prompting intense criticism from the opposition which expressed safety concerns and called for immediate corrective action The error was disclosed by Greek Communist Party (KKE) MP Christos Katsotis who tabled a relevant question to Deputy Minister of Infrastructure and Transport Nikos Tachiaos The tunnel was dug under the Katehaki Avenue a main road artery surrounded by hospitals and public buildings raising concerns about potential safety risks for both workers and the public Katsotis wondered how it was possible for the consortium building Line 4 to excavate 160 meters in the wrong direction without Elliniko Metro – the public company formerly known as Attiko Metro and responsible for the Greek capital’s subway system – or the Transport Ministry noticing it which has assured us that it is supervising the works on a 24-hour not realize that the tunnel had been opened for 160 meters “The AVAX-Ghello-Alstom consortium continued excavation despite being aware of the deviation,” he added Tachiaos acknowledged the error but downplayed the safety concerns saying that while “minor subsidence” on Katehaki Avenue was possible and confirmed that the consortium had been ordered to revert to the original plans The issue stemmed from a procedural misstep rather than a structural flaw adding that the mistake was not expected to cause major structural problems The Ellinikon is making headlines as one of Europe’s largest urban regeneration projects currently underway in Athens, Greece Rooted in the principles of a ’15-minute city,’ the €8 billion masterplan is spearheaded by LAMDA Development and offers a comprehensive 360-degree experience to its residents This transformation will revive the obsolete site of the Athens International Airport before the Marina was developed to host the Sailing Centre for Athens’ 2004 Summer Olympics 3.5 km coastal front | rendering © Sasaki with over 900 trees and 80,000 regional plants already planted The park features rain gardens for stormwater management and repurposes existing surfaces for benches and paths It includes an interactive fountain with choreographed lights and music and an accessible children’s playground A Zen Garden also highlights water elements and native flora The project will eventually grow to become the largest coastal park in Europe with more than 31,000 trees from 86 different species and over 1 million plants of Mediterranean varieties Another part of the project opening this year is the AMEA building a 11,500 sqm-acre structure that will house four associations for people with disabilities in four separate The Ellinikon Experience Park | rendering © Sasaki a unique destination for premium brands situated at the heart of the Athenian Riviera alongside the coast’s newest residential enclave The project will feature top Greek and foreign designers’ boutiques Dining options will include award-winning restaurants and a LEED precertification at a GOLD level has already been attained hosting 156 one- to five-bedroom residences four of which will also feature ground-floor retail; and ‘Promenade Heights’ by 314 which features nine circular and elliptical five-floor and 1-4 bedroom buildings divided by a central lush green space that connects directly to The Ellinikon Park and terrazzo give the project a modern feeling of home Riviera Tower | rendering ©  Foster + Partners the investment includes a five-star hotel with 123 rooms and suites The Ellinikon will accommodate a Cultural Route to connect all major 14 monuments of great historical interest Stretching 12 km across the 6.2 million sqm site the route will be open and accessible to all the development will feature a 3.5m coastal front and a 1 km long beach open to everyone in addition to 50 km of walkways and bike lanes which is in line with the project’s overall ethos of creating a cleaner and sustainable environment for the future designed by Finnish-American architect Eero Saarinen in the 1960s will be adaptively-reused as the centerpiece of a grand event space Pavilion Terraces | rendering © 314 Architecture Studio Riviera Galleria | rendering © Kengo Kuma Cove Villas | rendering courtesy The Ellinikon project title: The Ellinikon | @the_ellinikon_official developer: LAMDA Development | @lamdagroupdevelopment AXOR presents three bathroom concepts that are not merely places of function but destinations in themselves — sanctuaries of style following the completion of the sale of five plots The buyers are four real estate investment and development groups: Brook Lane Capital the Dutch Ten Brinke as well as Greek groups Hellenic Ergon and Daedalus Development The total purchase cost of the plots amounted to €106 million allowing Lamda to record a net profit of €76 million (including transaction costs) as the acquisition cost was approximately €27 million (€531/sq.m) As the listed company stated in an announcement this sale will further enhance the profitability and net cash flows of the first phase of Elliniko The specific plots are located near the commercial hub of Elliniko and the area where the Ellinikon Mall shopping center will be built Lamda aspires to have sold plots of land totaling 80,000 sq.m. these properties were to be developed in a later phase after the first five years of the property’s development they were ultimately chosen to be sold at this juncture as the original plan envisaged the development of these plots by the company itself it is clear that the additional revenues that will arise at this time will cover the increased financing needs of the projects that have begun to develop in Elliniko especially from the third quarter of the year onwards when construction will begin and other properties such as the Riviera Galleria shopping center which was recently awarded to the Metlen group during the period 2024-2026 Lamda is estimated to collect revenues totaling €3.13 billion €1.04 billion in 2025 and another €1.06 billion in 2026 Elliniko will bring the listed company a total revenue of €3.75 billion the bulk of the works on the property will concern the development of individual residential zones Tram service in the section between Asklipio Voulas and Zefyros in southern Athens will resume on July 1 after four months the Athens Urban Rail Transport Company (STASY) said on Friday The service had been suspended since March 10 due to construction work at the former airport at Elliniko to bring part of coastal Poseidonos Avenue underground trains will not stop at Kedro Istioploias station due to the proximity to the Elliniko construction site LAMDA Development has released an update on key milestones of the Elliniko project ahead of the publication of its H1 2024 financial results LAMDA’s results show ongoing operational profitability for the Elliniko project Little Athens: Progress of Projects at Elliniko appeared first on ProtoThema English Myanmar earthquake: Working to meet the biggest needs 90% of our funding comes from individual donors. Learn how you can support MSF’s lifesaving care with a gift. We need your support to continue this lifesaving work When Eleni Kotsoni first started working at Elliniko refugee camp in Greece she knew little about the people living there Four months into managing Doctors Without Borders/Médecins Sans Frontières (MSF) mental health activities in Greece she shares what she has learned about those trapped at the borders of Europe I was expecting to hear tragic stories of violence and conflict but I was also surprised to hear stories about families and relationship problems when we started providing people with counseling they needed to establish a relationship of trust with us and they talked about their everyday problems and as the situation in the camps got worse the stories they tell us have become increasingly harsh It’s not only the dreadful living conditions in the camps like Elliniko that undermines people It’s also the uncertainty—the fact of not knowing where they will be next week Some of the refugees have been here for months They have lost all sense of time and a large part of their identity Despite everything that the NGOs in the camps are doing people still don’t have answers to even basic questions: Will my children go to school  Will we stay here or will we be transferred to another camp which has a significant impact on their mental health My colleagues and I hear people say things like "I could live in this camp and put up with these living conditions for two years if only I knew that after that I’d be able to continue my journey to northern Europe." After the euphoria of their arrival in Greece people began to realize that they were trapped here We’ve seen pregnant women who no longer want their unborn children We’ve seen an increase in domestic violence and people with suicidal thoughts our teams are very worried about the cases of sexual violence we’ve heard about Tensions are also increasing between communities Afghans say they feel like second- or third-class refugees saying "People think that our country is not at war that our lives are not at risk like the Syrians." It’s in the middle of a residential suburb and consists of a disused airport terminal and two abandoned Olympic stadiums but unable to imagine what was happening inside—the number of people When I tell my friends what I see every day It’s as if these people don’t exist But that’s exactly what they need: to be allowed to exist and to be recognized as fully rounded individuals with their own identities and life histories Their identity seems to have been reduced to a single dimension; they are refugees and nothing else They feel neglected and have a need to interact with the community around them Haiti violence pushes MSF trauma hospital to its limits South Sudan: MSF strongly condemns deliberate bombing of its hospital .. © Médecins Sans Frontières 2025 Federal tax ID#: 13-3433452 Unrestricted donations enable MSF to carry out our programs around the world we will reallocate your donation to where the needs are greatest A total of 2.15 billion euros will be invested by 2027 in the Elliniko plot in southern Athens by four companies that have agreed with Lamda on the development of individual parts of the area once occupied by the capital’s airport It is estimated that the required building permits will have been secured by end-June so that these projects can start The largest of concerns an investment by the GEK TERNA-Hard Rock International scheme (49%-51%) for the construction of the Hard Rock Hotel & Casino Athens as the integrated tourism complex (IRC) will eventually be called The amount of the investment will be about far higher than the original plan The construction period is timed at three years which means that the complex is expected to open in the first half of 2027 the new Mandarin Oriental Hotel is expected to be inaugurated by TEMES of the Konstantakopoulos family the company’s agreement with Lamda also provides for the development of Mandarin branded luxury homes and apartments TEMES will create two hotel units on either side of the property’s beachfront The total amount of the investment is estimated to reach €500 million Another project concerns a development planned by the listed Orilina Properties will finance part of the €77.5 million investment Orilina Properties aspires to create a 4,900-square meter luxury residential complex An additional €20 million will be required for the construction of a members-only club to be completed by the first quarter of 2027 concerns the development by Trade Estates REIC of the Fourlis group in the Elliniko business-commercial zone The company will put €70 million into the construction of a 30,000-square meter retail park Α new tourist attraction was created at the site of the former airport at Elliniko where an old Boeing B727/284 Mount Olympus aircraft has been given a new lease of life as an exhibit once part of the fleet of the Olympic Airways commercial airline founded by shipping tycoon Aristotelis Onassis was one of six bought by Onassis at the end of the 1960s will showcase our country’s air travel heritage and be a landmark for the municipality Because it is not just an exhibit but a living monument of the history of Greek air navigation,” Infrastructure and Transport Minister Christos Staikouras said at the opening on Thursday The minister noted the historical importance of the airline and air travel for the growth of the Greek economy and its tourism industry noting that it was one of the first sectors to attract foreign investment after WWII Staikouras said the initiative will enhance the local tourism product and help the growth of the local economy while also preserving Greece’s cultural heritage The exhibit is organized by Zela Aviation and the municipality of Elliniko-Argyroupoli Lamda Development announced on Tuesday the signing of the definitive agreement with the Brook Lane investment firm for the establishment of the Ellinikon Park Tower company which will be the vehicle for the development of another tower at Elliniko It is a mixed-use property with an estimated investment above 500 million euros The tower will reach 150 meters and include a hotel as well as luxury apartments with hotel services (branded residences) Brook Lane will control 70% and Lamda the other 30% Lamda Development on Monday announced the signing of two strategic cooperation agreements with TEMES SA for the joint development of two state-of-the-art luxury 5-star hotels and the corresponding branded residences on the coastal front of Elliniko with a construction completion horizon of these developments at the end of 2026 the agreement is between Belt Riviera SA and Hellinikon SMSA (the company’s 100% subsidiary) and concerns the purchase by the former of 100% of the freehold rights of a property with an area of 80,011 square meters in development zone “CF-D2” of the Metropolitan Pole Elliniko-Agios Kosmas the following will be developed: a five-star hotel with 160 keys large outdoor spaces and high-end dining and entertainment outlets by the sea as well as a residential complex of 17 luxury branded homes/apartments with unobstructed views to the sea The above development will be located adjacent to the prime beachfront residential zone of ultra-luxury residences (The Cove Villas and The Cove Residences) The total transaction consideration is payable in instalments and amounts to approximately 38.3 million euros consisting of the purchase price of the property of approximately €22.3 million as well as the allocated infrastructure costs of the Metropolitan Pole of approximately €16 million The first instalment of the consideration of approximately €12.8 million Belt Riviera SA is controlled 70% by TEMES SA and 30% by Hellinikon SMSA You don't have permission to access the page you requested What is this page?The website you are visiting is protected.For security reasons this page cannot be displayed The leading Greek group managed to complete one of the most difficult tenders which will be carried out by the Elliniko casino will be announced after the official departure of Mohegan (it participated with a 65% share) and the entry of the American multinational company Hard Rock Hard Rock will replace Mohegan as the partner to operate and operate the first integrated resort casino in mainland Europe GEK TERNA’s stake will be increased from 35% stake in INSPIRE ATHENS After the completion of the relevant procedures construction of the facility will begin with a total investment of 1.1 billion while changes in the architectural plans of the project are expected Recall that the consortium INSPIRE ATHENS Mohegan – GEK TERNA won the tender of the Committee for the Supervision and Control of Gambling with an offer of 150 million euros for a license and a technical proposal (investment) in the amount of 1.1 billion euros The project includes the construction of a complete casino complex a luxury hotel with an area of ​​120,000 sq.m A conference and exhibition centre of 23,700 sq.m and a sports and cultural centre with a capacity of 10,500 people The project is fully implemented by GEK TERNA The process of pre-selling the next batch of homes on the site of the former airport in Elliniko which has been put on track to begin implementation is about to begin with sale prices that will range between 5,000-6,000 euros per square meter which will be built on parts of the area above Poseidonos Avenue these are rates at the low end of the sale prices of newly built homes in the wider area of ​​the southern suburbs; therefore these properties can address the buying public interested in buying a home in the area Mohegan Gaming & Entertainment announced in the United States that it has withdrawn from plans for the creation of a casino in Greece slated for the former airport plot at Elliniko in southern Athens “MGE has conducted a comprehensive review of its operations and future commitments against the new backdrop created by the Covid-19 global pandemic and concluded that we would not continue to pursue the concession rights for the Athens project,” it said “We are also focused on the large undertaking at Inspire Korea While we know this is a disappointment to many it is the right decision for our company and its stakeholders,” it added The Hellenic Gaming Commission selected Mohegan and its GEK Terna Holding Real Estate Construction partner to construct the resort in southern Athens Mohegan said in September all of its equity ownership in the Athens project was transferred to GEK Terna which was previously the minority owner in the venture it remains as a consultant to Inspire Athens Greece might see a EUR 6 billion ($6.2 billion) windfall from the proposed Elliniko resort casino now that the concession agreement for the license to operate the property has been finalized. The deal was signed on Thursday, marking the beginning of greenfield investments in the Greek gaming market, with a consortium backed by Greek construction giant GEK TERNA winning the permit expected to offer employment to thousands of people yield significant revenues to the public sector and add value to Greece’s brand.  Mohegan Gaming & Entertainment won the bid to build the complex in November 2019 but then pulled out of the deal has secured the license for the next 30 years at a price of EUR 150 million ($156 million) The consortium will spend at least another EUR 950 million ($991 million) on the construction of a casino GEK TERNA will proceed immediately with the submission of a request to the Gaming Supervision and Control Committee for the expansion of the consortium.  Hard Rock would also be a part of the investment as it has been reported it will acquire 51% of the joint venture according to the aforementioned source and news outlet ypodomes.com The construction sector of the Greek company will undertake the building of 100% of the new facilities.  The four criteria of the technical evaluation for the tender of the casino license requirements included a five-star hotel; covering at least 60,000 sq.m with 200 beds; a conference center of at least 12,000 square meters; a sports center hosting at least 3,000 spectators; and a casino that should be larger than 12,000 square meters and up to 15,000 square meters with 120 tables and 1,200 gaming machines.  The budgetary benefit is expected to exceed EUR 200 million ($208 million) every year and a total of EUR 6 billion ($6.2 billion) for 30 years; 3 billion ($3.1 billion) of which will come from the casino’s gross revenue tax 800 million ($835 million) from income tax 600 million ($626 million) from fees to municipalities and 1.1 billion ($1.14 billion)  from social security contributions The revenues of Lamda Development as the concessionaire of the land will not be negligible The contract between the two sides provides for the consortium to pay EUR 15 million ($15.6 million) as a minimum annual fee or 5% of the annual turnover The next step is the ratification of the contract by Parliament and the issuance of building permits by early 2023 The construction work is set to take at least three years At the most impressive seaside spot in Athens haute cuisine and many entertainment offers will create the ultimate luxury destination The Riviera Galleria will feature leading brands cultural events and unique performances in one spot on the Athenian Riviera that will attract visitors from all over the world This is how the staff of Lamda Development describe the Riviera Galleria the shopping areas next to the new marina of Agios Kosmas which will occupy a large area of ​​the former airport designed by the award-winning Japanese architect Kengo Kuma is inspired by the sailing ships that cross the seas of Greece and is an ode to simplicity and elegance with the aim of becoming an architectural reference point in the new marina Lamda Development has published the video of the future image of the new commercial destination of the Athenian Riviera which has entered the first five years of the projects It is estimated that the investment can reach 125 million euros with a projected number of visitors close to 7 million visitors during its first year of operation READ MORE: Inside the Homes of Jennifer Aniston Activating this feature will stop all interaction and design based motions and animations on the site for the duration of your visit Activating this feature will create a focus area on the screen that will follow your mouse to eliminate distractions This project constitutes one of the greatest urban regeneration projects in Europe and the largest urban regeneration investment ever in Greece At the heart of The Ellinikon development lies the two million square meter Metropolitan Park which is expected to become a significant green area in Athens and one of the largest coastal parks in the world The project consists of an integrated urban development model that will combine the area's natural beauty and unique inherent characteristics with landmark buildings and state-of-the-art infrastructure climate-positive design will reduce energy use increase energy efficiency and minimize carbon emissions The development will also promote biodiversity and active travel and be served by electric vehicle facilities The Mace Jacobs joint venture will manage the overall Program and lead the delivery of the buildings portfolio which includes iconic structures such as the first high rise residential project in Athens luxury retail development and modern office space in addition to bringing economic and social benefits and transformation for local communities through jobs creation Mace will contribute with its extensive track record from mega developments including One Za'abeel and The Opera District in the UAE alongside other major global infrastructure and legacy developments such as the infrastructure reconstruction program in Peru and HS2 London Euston Station in the U.K "Lamda is looking forward to capitalize on the expertise of Mace and Jacobs to provide overall Program Management Consultancy to The Ellinikon and assist our team in turning this great vision into reality The joint talent and experience of Lamda and Mace Jacobs will ensure a successful timely delivery of a green sustainable and smart city with excellent quality of life exceptional landmark buildings and properties know-how and new construction techniques to the Greek market over the coming years," said Lamda Development CEO Odisseas Athanasiou "The Ellinikon is a landmark development for integrated sustainable living and an exciting investment that will bring people to the area to work socialize and vacation," said Jacobs People & Places Solutions Senior Vice President Europe and Digital Strategies Donald Morrison "Our people bring extensive integrated project management and delivery experience in global re-development programs to support this exceptional opportunity to build a new Greek city We will be working closely with the local supply chain in Greece to bring The Ellinikon vision to life and help grow career opportunities for local citizens in high-skilled jobs." "We are delighted to join forces with Jacobs and let our talented teams turn LAMDA's vision of The Ellinikon into reality," said Mace Consult CEO and Mace Group Board Member innovation and hands-on delivery experience from around the world and this is one of the most exciting urban regeneration projects that Europe has ever seen The Ellinikon will substantially contribute to the repositioning of Athens and help shape the future of Greece as a world-leading tourist destination." Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and such statements are intended to be covered by the safe harbor provided by the same Statements made in this release that are not based on historical fact are forward-looking statements We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive There are a variety of factors that could cause business results to differ materially from our forward-looking statements including the emergence and spread of variants of COVID-19 the efficacy and availability of vaccines and treatments and the related reaction of governments on global and regional market conditions and the company's business For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements see the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recently filed Annual Report on Form 10-K ,and  Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Item 1 - Legal Proceedings; and Item 1A - Risk Factors in our most recently filed Quarterly Report on Form 10-Q, as well as the company's other filings with the Securities and Exchange Commission The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results Mace is a global company of experts in shaping and making the built environment construction and operations services for many of the ' 'world's most inspiring building and infrastructure projects and programs – from Olympic parks and iconic skyscrapers to state-of-the-art data centers its growth has been fueled by an adventurous spirit and the relentless pursuit of a better way the company employs over 6,000 people across five global hubs in Europe Mace is driven by its purpose to redefine the boundaries of ambition, and its vision of leading the way to a more connected, resilient and sustainable world. Find out more at www.macegroup.com View original content to download multimedia:https://www.prnewswire.com/news-releases/jacobs-and-mace-to-manage-regeneration-of-the-ellinikon-greece-301483481.html The Hellenic Gaming Commission will on Wednesday unseal the financial offer by the consortium of Mohegan and GEK Terna for the casino license at the integrated tourism and entertainment complex at Elliniko The opening of the bid follows the assessment of the consortium’s technical offer and was made possible following the rejection of the appeal to the Council of State by US company Hard Rock against its exclusion from running for the license If the regulator deems the sole financial offer sufficient it can proclaim the consortium as the winning bidder The minimum one-off price has been set at 30 million euros This process is likely to be completed by end-October after which the contract between the state and the preferred investor will be drafted and signed so that it can be submitted for approval at the State Audit Council and then ratified by Parliament The emergence of a winning bidder and the conclusion of the contract for the casino is a necessary condition for the completion of the financial transaction between the state and Lamda Development for the entire project at Elliniko A demolition order for about 450 buildings inside the mixed-use development of the former Athens airport at Elliniko was published in the government gazette on Wednesday opening the way for work to begin at the site The decision will affect 958 “volumes” inside the plot of the former airport which include 450 buildings supporting infrastructure and other types of construction with the Development Ministry legalising the buildings that had been raised on the site to avoid the lengthy process followed for illegal constructions no other approvals or legislation is required to start demolishing the buildings The firm developing the 8-billion-euro Elliniko project on the plot of Athens’ former international airport on the capital’s southern coast on Tuesday published a new video unveiling its plan for Greece’s biggest shopping mall and other aspects of the project Stretching across 185,000 square meters off Vouliagmenis Avenue Lamda Development’s “Commercial Hub” – a combination of different professional spaces – aspires to transform Elliniko into a major entertainment office spaces and residential apartments will also be built near the new shopping center and will serve as a landmark The aim is to introduce a “new lifestyle philosophy in shopping entertainment and work,” says Lamda CEO Odisseas Athanasiou The video published yesterday is the eighth of its kind produced by Lamda to present its plans for Elliniko Lamda Development and its partners will deliver four new hotels 100 maisonettes and 200 apartments in the Elliniko Marina Tower in the next five years maisonettes and apartments alone will bring in revenues of 950 million euros of which some €250 million is expected within 2022 This means the average price of sale per house will be €2.9 million In the next couple of months the consortium of TEMES with Lamda Development will announce the international hotel management groups it will cooperate with for the two units on the seafront as well as the third hotel in the mixed-use tower close to Vouliagmenis Avenue that will be developed in cooperation with Brook Lane Capital By 2025 the contractor expects to have completed the hotel that will host the integrated casino complex that will be constructed by GEK Terna The timetables and the amounts expected were announced yesterday by Lamda Development Chief Executive Officer Odisseas Athanasiou at a presentation yesterday at Elliniko Almost all of the abovementioned 327 residences have provisional sale agreements with the last few deposit payments expected by this summer The only exception is the three top floors on the Marina Tower and the two maisonettes at its very top that Lamda implied have been reserved for whoever offers the highest price the underground section of Posidonos Avenue will have also been delivered as well as the large mall on Vouliagmenis Avenue and the Galleria shopping complex at the Agios Kosmas Marina Regarding the deals for the stores to be hosted at the large mall on Vouliagmenis Athanasiou said demand from fashion companies currently covers 145% of the space available for such use while there is also very strong demand for restaurants There is a lot of interest in the prices of the first residences sold Given that the 27 villas that have already been sold will bring the contractor at the former Athens airport site some €200 million it would seem that the average price per villa comes to about €7.4 million A 7-hectare section of what aspires to become one of the biggest metropolitan parks in Europe opens on Monday at the site of Athens’ former airport at Elliniko which foresees a massive retail and business park the surrounding park is being created on the principles of sustainability and durability with native and resilient plants and eco-friendly practices The “teaser” park opening on Monday already hosts some 500 trees and 55,000 plants The potential future revenues of Lamda Development from the first few residential projects at the Elliniko plot in southern Athens are already estimated at 685 million euros after the company paid the first tranche of €300 million to acquire Elliniko SA The listed company announced that it has already received deposits from buyers for 75% of the property for sale at the Marina Tower landmark building the company presented on paper in July This will amount to revenues of €338 million upon the completion of the transactions Lamda has received down payments for all 27 luxurious villas to be developed on the Elliniko seafront with potential revenues from that coming to €345 million The incorporation of Elliniko SA assets in the Lamda financial report as of June 25 has meant profits of €306 million for the development group over the first six months of the year This concerns the value of all investment assets such as malls the integrated tourism resort-casino and activities related to schools and sports at the location – these are buildings whose construction will gradually begin from the first half of 2022 The firm developing the 8 billion-euro Elliniko project at the plot of the former Athens airport on the capital’s southern coast on Tuesday published a new video unveiling its plan for Greece’s biggest shopping mall and other aspects of the project Lamda SA’s “Commerical Hub” – a combination of different professional spaces – aspires to transform Elliniko into a major entertainment office spaces and residential apartments will also be built near the new shopping center and will act as a landmark The video published on Tuesday is the eighth of its kind produced by Lamda to present its plans for Elliniko Please enable JS and disable any ad blocker Lamda Development is about to proclaim a tender for a project that will take Poseidonos Avenue underground at the section next to the Greek capital’s former international airport at Elliniko – which the Athens-listed company is developing The project also involves the construction of infrastructure and networks along the seafront and to the north of Vouliagmenis Avenue The tender will be called in November so that Lamda selects its preferred bidder in December for works to begin in January The tender is estimated to concern a budget 300 million euros and all major construction companies in the country are likely to submit offers Construction on the 200-meter Riviera Tower residential high-rise Lamda Development Managing Director Odysseas Athanasiou announced on Monday speaking at an event for the launch of the project is expected to be built by a joint venture between the French company Bouygues and Intrakat although the finalization of the agreement with Lamda and the signing of the relevant contract are pending the goal is for the first owners to settle in Riviera Tower on March 30 Also speaking at the event was Prime Minister Kyriakos Mitsotakis who noted that “the problems we had to solve in order to sign the contract and start the project were bigger than we could possibly have anticipated.” He applauded the fact that “the capital is finally turning toward the sea where a model of sustainable development is taking shape.” Mitsotakis also focused on the fact that the Elliniko project is expected to attract approximately 1 million tourists annually “The shift of part of the Attica population to the southern suburbs has increased the sale prices of houses and has led to foreclosures we seek to enable the economically weaker to acquire a residence in Elliniko,” said Lamda owner Spyros Latsis He added that a hybrid model of house sales will be used so that a part of the buyers will pay market prices and another will be subsidized by Lamda Development and the banks That initiative needs further specialization how many properties will be sold in this way what will be the price subsidy percentage from Lamda and what will be the terms of the loan products The first Mandarin Oriental hotel in Athens will be built on the coastal front of the Elliniko project The agreement was signed by Belt Riviera SA – a company established by Temes SA and Hellinikon SMSA – and the Mandarin Oriental Hotel Group Besides a five-star hotel with 123 rooms and suites scheduled to open in the summer of 2027 the deal includes plans for 17 luxury branded residences on the so-called Attica Riviera near the Agios Kosmas marina Mandarin Oriental Athens will be the group’s second property in Greece opinion pieces and current events straight to your inbox.