![The changing image of Greek shopping malls](https://www.ot.gr/wp-content/uploads/2021/06/emporiko_kentro_mall.jpg)
Despite the heavy blow dealt to them during the pandemic – and the questioning of their ability to maintain their high commerciality in the post-Covid-19 era – shopping malls remain in the spotlight. Big players in the Real Estate market are indomitably continuing planning investments for the upgrade of existing, but also the creation of new, malls, making – of course – the necessary adjustments for new consumer habits that emerged from the health crisis.
Indicative is the case of River West in Kifissos, which ten years after the start of its operation is expanding by 20,000 sq.m. and is changing form. According to the owner company, Noval Property of the Biochalco group, the available space for rent is being doubled and a 20,000 sq.m. park is being created providing various family activities in a suffocatingly dense area (there will be a playground, outdoor amphitheater, waterfall and innovative entertainment areas for children).
It is an investment totaling around € 30 million, which is expected to bring Noval a 30% increase in rental income after three years of full operation. The opening of the new section called River West Open will take place gradually (summer – autumn 2021) and the goal is to reach 8 million visitors annually, after its first three years of operation.
The design of Reds (a subsidiary of Ellactor) for the renovation of the old Cambas winery in Kantza (Pallini, Attica) is in full swing. The new administration announced that it is considering the best possible mix of uses to be implemented , given that since 2018, when the Master Plan has been prepared, there have been changes in the wider real estate market environment.
The Cambas Park Project , which will be spread over an area of 315 acres, is estimated at costing about 200 million euros. Konstantinos Group, the expatriate businessman from Venezuela who controls the “Athens Metro Mall”, is also running a complex commercial and amusement park in the area of Metamorfosi. The new shopping center has a budget of 94 million euros and is planned to be built on an area of 86 acres in an area on the border of Metamorfosi and Lykovrisi – Pefki and as the mall of Agios Dimitrios will be connected to the metro.
Seaside mall
Shopping centers have a prominent position in the regeneration of Elliniko.
According to the project leader Lamda Development, the Marina Galleria will be built on the seafront, a new generation shopping center located by the sea that will offer visitors “a multifaceted and highly aesthetic shopping, gastronomy, and entertainment experience”. It will extend to 22,000 sq.m. and will house leading fashion brands, some of which are coming to Greece for the first time, but also internationally recognized Greek designers.
It is estimated that it will cost 100 to 125 million euros and is expected to open its gates in 2025 while in the first year it is estimated to host about 7 million visitors. Lamda Development also plans to build another commercial building on Vouliagmenis Avenue, the “Vouliagmenis Mall”. It will extend to 72,000 sq.m. and is expected to be ready in 2025. A retail park of 30,000 sq.m. will be created very soon by the Fourlis group. It will be a combination of Big Boxes stores and is estimated to require funding to the tune of 55 million euros.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
![ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y](https://www.ot.gr/wp-content/uploads/2023/08/unnamed-41.jpg)
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
![Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated](https://www.ot.gr/wp-content/uploads/2024/06/ergasia-ergazomenos-600x300.jpg)
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4
![OECD: Job Vacancies on the Rise in Greece](https://www.ot.gr/wp-content/uploads/2024/07/ergasiabusinness-768x556-1-1-600x434.jpeg)
OECD: Job Vacancies on the Rise in Greece
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019
![OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece](https://www.ot.gr/wp-content/uploads/2024/05/ΟΤΕ-Group_1-600x450.jpg)
OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece
This initiative will provide ultra-fast internet speeds of up to 1Gbps to over 350,000 households and businesses in semi-urban and rural areas across the country