Ellinikon

What Ellinikon does

The Ellinikon is a 6.2 million sq.m. mixed-use urban regeneration project on the Athenian Riviera, transforming the former Athens International Airport site into a smart, sustainable city developed by HELLINIKON S.M.S.A., a 100% subsidiary of LAMDA Development S.A. The project spans 2.7 million sq.m. of buildable area, including more than 8,000 residences across multiple neighbourhoods (Riviera Tower, Little Athens, East Village, The Cove Villas, The Cove Residences), 2 million sq.m. of metropolitan park, 3.5 km of revitalised coastline, a 306-berth marina, retail destinations (The Ellinikon Mall, Riviera Galleria, Neighbourhood Retail), four hotels including Mandarin Oriental Athens and a Marina Hotel, an Integrated Resort Complex, the upcoming Sports Park, schools, healthcare facilities, and a 50 km network of walking and cycling paths. The project is designed as a 15-minute city with LEED certification planned for 100% of commercial and tall residential buildings, 100% reuse of demolition materials, and smart-city IoT infrastructure for irrigation, lighting, traffic, energy, and waste management.

Revenue is generated through a portfolio of streams: off-plan residential property sales (Golden Visa-eligible at a €800,000 minimum, VAT-exempt through 31 December 2026) on a milestone-based payment schedule, retail and office leasing, marina berth subscriptions, hospitality and resort operations, education and healthcare services, and Sports Park revenues. Go-to-market is direct and multi-channel: a corporate website, the Experience Centre (largest visitor centre in Europe, opened 2024) and 75,000 sq.m. Experience Park (opened 2023, 1.8+ million visitors), dedicated commercial leasing and investor-relations teams, LAMDA Prime Properties as captive sales agent, and international broker networks targeting HNW and Golden Visa-eligible buyers in Europe and beyond. Phase 1 completion is targeted for 2027-2028, with the project expected to contribute 2.4% of Greek GDP and generate over €14 billion in state tax revenues and 70,000-80,000 new jobs at maturity.

Name

Ellinikon

Legal name

ELLINIKO - ETAIREIA ANAPTYXIS AXIOPOIISIS KAI DIACHEIRISIS AKIHTON MITROPOLITIKOU POLOU ELLINIKOU – AGIOU KOSMA MONOPROSOPI ANONYMI ETAIREIA (HELLINIKON S.M.S.A.)

Website

https://theellinikon.com.gr

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

The Ellinikon is a 6.2 million sq.m. mixed-use smart-city development on the Athenian Riviera by LAMDA Development's HELLINIKON S.M.S.A., delivering 8,000+ residences, retail, hospitality, marina, and park assets to HNW buyers, commercial tenants, and visitors, with Phase 1 targeted for 2027-2028.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Hotels (except Casino Hotels) and Motels (72111), Nature Parks and Other Similar Institutions (712190)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Integrated Full-Service Hotel Complexes (Mixed-Use) (THAGAAAL)

akta.pro secondary industries

Luxury Villas & Residences Resorts (THAGACAM), Luxury Beachfront & Waterfront Villas (THAMAEAE), Luxury Villa Resorts & Branded Villa Communities (THAMAEAI)

Keywords

• Urban regeneration development
• Residential property sales
• Commercial real estate leasing
• Smart city infrastructure
• Mixed-use real estate

Headquarters

HQ city

Athens

HQ country

Greece

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Technology or R&D, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Residential Property Sales: The Ellinikon generates revenue primarily through the sale of residential properties (apartments, villas, duplexes) across neighbourhoods including Riviera Tower, Little Athens, East Village, The Ellinikon Riviera, The Cove Villas, and The Cove Residences. Properties are sold off-plan with a payment plan: reservation fee (typically 10%), SPA signing payment (10-15%), milestone-based instalments every 5-8 months (10-20%), and final payment on handover.
2. Commercial Retail Leasing: Revenue from leasing retail spaces within The Ellinikon Mall, Riviera Galleria, and Neighbourhood Retail areas to brands and operators. Leasing enquiries are managed via dedicated commercial forms and contact lines.
3. Hospitality (Hotels & Resorts): Revenue from hotel and resort operations including Mandarin Oriental Athens and the Marina Hotel, as well as the Integrated Resort Complex (entertainment, leisure and hospitality).
4. Office and Co-working Space Leasing: Revenue from leasing next-generation office spaces and flexible co-working areas to professionals and businesses.
5. Marina Berths: Revenue from 306 berths in a state-of-the-art marina accommodating yachts and leisure vessels.
6. Healthcare and Wellness Services: Revenue from modern medical facilities and health & wellness services within The Ellinikon.
7. Education Facilities: Revenue from new schools and learning centres serving the local community and residents.
8. Sports Park and Facilities: Revenue from sports facilities (tennis, football, open-air training) and public areas within The Ellinikon Sports Park.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels9 records

Core offering

The Ellinikon develops and sells off-plan residential properties (apartments, villas, duplexes across Riviera Tower, Little Athens, East Village, The Cove Villas, The Cove Residences) and leases commercial space (retail in The Ellinikon Mall, Riviera Galleria, Neighbourhood Retail; offices; marina berths; hospitality). The company also operates public attractions including The Ellinikon Experience Park, Experience Centre, and Sports Park, all within a 6.2 million sq.m. smart city masterplan on the Athenian Riviera.

Product overview

The Ellinikon is a single, unified urban regeneration project — Europe's largest — developed by LAMDA Development on the Athenian Riviera. The offering spans a portfolio of distinct branded developments: residential products (Riviera Tower, The Cove Villas, The Cove Residences, Little Athens, East Village), retail destinations (The Ellinikon Mall, Riviera Galleria, Neighborhood Retail), hospitality (Mandarin Oriental Athens, Marina Hotel, Integrated Resort Complex), public spaces (The Ellinikon Park, Experience Park, Experience Centre, Coastal Front), recreation (Sports Park), and commercial offices. These products are unified by a smart city infrastructure framework and shared sustainability standards, all within a master-planned 6.2 million sqm development.

Differentiator

Problem solved

Functional benefit

Brands

• The Ellinikon Experience Park: A 75,000 sq.m. park featuring approximately 900 trees, 80,000 plants, 3 plazas, and various entertainment experiences. Open to all visitors free of charge.
• The Ellinikon Experience Centre
• The Ellinikon Park
• The Ellinikon Mall
• Riviera Galleria
• Little Athens
• East Village
• The Ellinikon Riviera
• Riviera Tower

Products and services

• Riviera Tower A 200m residential skyscraper designed by Foster + Partners, offering 170 luxury residences with biophilic design, extraordinary views, and premium specifications. Targets high-net-worth buyers seeking flagship living on the Athenian Riviera.
• The Cove Villas High-specification bespoke villas harmoniously combining city living with beach tranquility. Each residence is crafted through close collaboration between owner and architect, with premium pricing.
• The Cove Residences Apartments and duplexes set amid lush landscapes near the beach, designed for families seeking a high-aesthetic, beach-adjacent residence.
• Little Athens A residential neighborhood next to the park and beach offering high-aesthetic smart residences designed by Greek and international architects, with shops, restaurants, and leisure services.
• East Village A new residential neighborhood on the eastern side of The Ellinikon offering proximity to education, healthcare, shopping, and entertainment facilities.
• The Ellinikon Mall The largest and most advanced shopping centre in Greece and one of the biggest in Southern Europe, offering retail leasing to local and international brands across fashion, F&B, electronics, health & beauty, and entertainment.
• Riviera Galleria A unique premium retail destination on the Athenian Riviera offering high-end shopping and positioning the area at the centre of global interest.
• Neighbourhood Retail Local retail shops within The Ellinikon's neighborhoods serving residents' daily needs through dedicated neighbourhood leasing.
• Mandarin Oriental Athens A world-class hotel destination operated by Mandarin Oriental, offering unique experiences to visitors and elevating The Ellinikon's positioning as a global destination on the Athenian Riviera.
• Marina Hotel The luxury hotel located at The Ellinikon Marina, providing high-end accommodation adjacent to the marina berths.
• Integrated Resort Complex An entertainment, leisure, and hospitality destination within The Ellinikon, combining resort, casino-style amenities, and entertainment.
• Office and Co-working Space Leasing Next-generation office spaces and flexible co-working areas leased to professionals and businesses within The Ellinikon.
• Marina Berths 306 berths in a state-of-the-art marina accommodating yachts and leisure vessels, generating leasing revenue from berth customers.
• The Ellinikon Sports Park Modern sports facilities including tennis, football, open-air training spaces, and public areas for athletes and the general public, expected to open by Q2 2026.
• The Ellinikon Experience Centre Europe's largest visitor centre, housed in a renovated airport hangar, featuring interactive exhibits showcasing the project's past, present, and future. Free admission with mandatory pre-booking; open daily 9:00–21:00.
• The Ellinikon Experience Park A 75,000 sq.m. public park (part of the wider Ellinikon Park) with nature, playgrounds, plazas, and event spaces. Open daily 9:00–22:00, free entry, with over 1.8 million visitors welcomed to date.
• Education Facilities New schools and learning centres serving the local community and residents within The Ellinikon, generating education-related leasing and service revenue.
• Healthcare and Wellness Services Modern medical facilities and health & wellness services for residents and visitors, operated by healthcare and wellness providers within The Ellinikon.

Quantifiable outcome

• Expected to contribute 2.4% to Greek GDP upon completion
• +7 more outcomes

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core and flagship.

• Foster + PartnerscoreStrategic or Co-development PartnerFoster + Partners is the internationally acclaimed architectural firm that designed Riviera Tower — Greece's first green residential skyscraper and new architectural landmark of The Ellinikon. The partnership positions The Ellinikon as a world-class destination and is a key differentiator attracting high-net-worth buyers and global investors.
• Mandarin Oriental AthensflagshipStrategic or Co-development PartnerMandarin Oriental Athens is a world-class hotel within The Ellinikon offering unique experiences to every visitor. As an internationally renowned luxury hospitality brand, it attracts high-end tourists and elevates The Ellinikon's positioning as a global destination on the Athenian Riviera.
• HELLINIKON S.M.S.A.coreOthersHELLINIKON S.M.S.A. (ELLINIKO - ETAIREIA ANAPTYXIS AXIOPOIISIS KAI DIACHEIRISIS AKINITON MITROPOLITIKOU POLOU ELLINIKOU – AGIOU KOSMA MONOPROSOPI ANONYMI ETAIREIA) is the 100% subsidiary of LAMDA Development S.A. that operates The Ellinikon project. Registered at 37A Kifisias Avenue, Maroussi, Attica.
• LAMDA Prime Properties S.M.S.A.coreOthersLAMDA Prime Properties S.M.S.A. (LPP) is a member of the LAMDA Development Group, co-managing residential property sales and commercial leasing for The Ellinikon alongside HELLINIKON S.M.S.A. LPP also manages promotional communications jointly with HELLINIKON S.M.S.A. as Joint Data Controllers under GDPR. Registered at 37A Kifisias Avenue, Maroussi, Attica.

Scale indicators24 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Canary Wharf Group: Canary Wharf is a master-planned mixed-use district in London combining office, retail, residential, and cultural venues. Comparable in its master-planned commercial-residential mix and phased delivery at scale, with similar mixed-use monetisation pathways.
• NEOM: NEOM is Saudi Arabia's planned $500 billion mega-city project including The Line. Of comparable mega-scale ambition and infrastructure-led urban planning, although with a much larger execution risk profile and a greenfield rather than regeneration mandate.
• Masdar City: Masdar City is a planned sustainable city in Abu Dhabi focused on clean energy, smart-city infrastructure, and integrated mixed-use development. Closely comparable to The Ellinikon's smart-city, LEED-certified positioning and master-planned approach to sustainability-led urban development.
• Songdo International Business District: Songdo IBD is a planned smart city in South Korea built from scratch with LEED-certified buildings and integrated IoT infrastructure. Comparable in sustainability and smart-city focus, although built greenfield rather than from regeneration of a former airport site.
• Dubai Creek Harbour: Dubai Creek Harbour is a waterfront mega-development by Emaar featuring residential, retail, hospitality, and marina components. Highly comparable in waterfront scale and mixed-use positioning to The Ellinikon Riviera, sharing developer DNA and Mediterranean-style premium coastal positioning.
• Porta Nuova Milano: Porta Nuova is a mixed-use urban regeneration project in Milan featuring residential, retail, and commercial space. Comparable European mixed-use regeneration thesis on a smaller scale than The Ellinikon, with similar premium positioning and corporate demand drivers.
• King Abdullah Economic City: King Abdullah Economic City (KAEC) is a planned mega-city in Saudi Arabia with residential, industrial, port, and leisure zones developed by Emaar and the Public Investment Fund. Similar in master-planned scale and mixed-use development approach to The Ellinikon, though anchored more around industrial activity.
• Lusail City: Lusail is a planned mega-city in Qatar with residential, hospitality, retail, and mixed-use zones developed around the FIFA World Cup infrastructure. Comparable in scale and master-planned approach to The Ellinikon's greenfield-style build-out of an integrated urban district.
• Battersea Power Station: Battersea Power Station is a £9 billion urban regeneration project in London transforming a former industrial site into mixed-use residential, retail, and cultural space. Highly comparable in its urban-regeneration thesis and mixed-use delivery within a Western-European context, and similarly converts a legacy site into a premium destination.
• Hudson Yards (Related Companies): Hudson Yards is a 28-acre mixed-use mega-development on Manhattan's West Side combining commercial office, retail, residential, and public space. It is the most direct US analog to The Ellinikon's scale, mixed-use positioning, and master-planned approach to integrated urban development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/TheEllinikon
• LinkedInlinkedin.com/company/theellinikon

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ellinikon