February 20, 2019

The Hellinikon project

The Hellinikon, a new way of living in Athens

Athens has always been an attractive destination, for holidays, for business, for education, and for investment. The combination of Mediterranean climate, fascinating historical treasures, culture and gastronomy all contribute to the wealth and multifaceted attractions of Athens. And now, a new project will add yet another dimension to the appeal of the Greek capital, and it goes by the name of HELLINIKON.

Where and what

The Hellinikon is by the largest urban regeneration project in Europe, destined to become a vibrant lifestyle destination. Located just 11km from the city centre of Athens and the Acropolis, 17km from Piraeus port, and 30km for Athens airport, the project’s site covers a total area of 6.2million sqm, with a coastline of 3.5km.

A closer look at the master plan reveals a microcosm of Athens, only better, smarter, greener and more attractive. Zoom in and you will identify the following different areas:

  • A business District for the contemporary business community
  • A retail district that promises to be the new retail destination of Athens
  • Residential districts featuring green homes
  • The regenrated marina district which is destined to become an international yachting destination
  • Hotels to accommodate tourists in this new and magnetic environment
  • A 2 million sqm Metropolitan Park, the largest coastal park in Europe, set to rival London’s Hyde Park and New York City’s Central park in size, beauty and functionality
  • 600,000 sqm of communal green and open spaces
  • Music, culture, and art venues
  • Leisure and entertainment venues for everyone
  • Restored coastal front, fully accessible to the public, including a 1km free-access beach

Getting around at Hellinikon is easy, as public transportation includes metro, tram, bus lines across the huge development. For those who enjoy walking, strolling and cycling, plans include a 50km network of paths for pedestrians and cyclists.

Boosting the economy

What a project of this size means for Athens and the economy of Greece in general cannot be overstated. With a total investment value of €8 billion, and apart from the incalculable benefits to the environment and society, the Hellinikon is expected to generate some 10,000 jobs during the construction period alone, and some 75,000 jobs for operation after completion. Expected revenue from taxes is estimated at €14 billion, and the project’s estimated contribution to GDP is around 2,4%.

In the long term, the Hellinikon project will also reinforce boost year-round tourism to Athens, both domestic and international. In fact, analysts foresee that this project alone will add some 1 million tourists to the current number of arrivals, while extending the stay of visitors and increasing their holiday spending.

Making it happen

The landmark project is the brainchild of Lamda Development, and will be undertaken with the support of the Global Investment Group, an international consortium comprising the Chinese conglomerate Fosun Group, Eagle Hills from the United Arab Emirates, and Latsis Group of Greece. According to government officials, plans are moving in the right direction, and work is expected to begin in 2019.

Given all the benefits mentioned above, it is not surprising it anticipated with great enthusiasm, as the public, entrepreneurs and investors recognize its value and appeal as a lifestyle destination, and a powerful magnet in Attica.

For more details, visit https://thehellinikon.com/