Lamda Development, which owns the concession for the Ellinikon privatization and land development in coastal southeast Athens, on Wednesday announced an agreement with Orilina Properties allowing for investment by the latter along the project’s seafront, and specifically on the stretch next to the marina and the current Aghios Kosmas sports complex.
The tract of land identified allows for the building of 5,790 square meters of surface space, and lies between the site of the proposed high-rise Riviera Tower and the Riviera Galleria shopping mall.
Orilina is reportedly proposing high-end residences for the site and auxiliary facilities, along with a food court and entertainment complex.
A price tag for the proposed development exceeds 70 million euros, according to ATHEX-listed Lamda.
The Athens-based developer has dubbed the entire project as “The Ellinikon”, taking from the site’s name, Ellinikon, where the old Athens airport once operated.
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