The start of of works at Elliniko is a stimulus for the construction market
High demand for housing leads to revision of LAMDA DEVELOPMENT investment plans.
A positive signal, for the overall construction and building market of the country, emits the imminent start of the construction works of the emblematic project, at the old airport of Elliniko.
Within the Metropolitan Park, a new city is expected to be created. The public tender for the construction of the two Towers (homes and offices) that are to be built on the site of the former airport is already underway.
The Residence Tower, up to 200 metres high, with a total area of 45,000 sq.m., will have panoramic views of both the sea and the rest of Elliniko and the city of Athens. The Office Tower will be located at the top section of the area.
Already, Lamda Development has started selling residential and commercial spaces while in plans. In the relevant form of interest on the project website, the pre-sale of real estate concerns three types of houses: detached house, apartment and apartment in a residential tower. In terms of sales prices, Lamda has set in its business plan a minimum price of 3,500-4,000 euros per square metre, except for the houses that will be developed on the coastal front, the prices of which are expected to be much higher (about 10,000 euros per square metre).
The green skyscraper
The cost of the first green skyscraper in Greece, Marina Tower, which will be erected on the area of Elliniko, will amount to 250 million euros, while its construction will be completed in the second half of 2025.
The skyscraper, 200 metres above sea level, will have 200 apartments on 45 floors. Upon its completion, within the next five years, it will be the tallest building in Greece and one of the six tall buildings that will be erected in Elliniko.
At the same time, Marina Tower will be one of the greenest skyscrapers in the world and a model of sustainable design, incorporating the best environmental practices and the most modern international safety protocols. Its design has been undertaken by the leading company Foster + Partners.
Lamda Development, which is developing the project, is in the process of preparing the studies with the aim of submitting them for licensing within 2022.
The auctioning of the project will follow, with the holding of a public tender for the selection of the construction company or consortium that will undertake the construction of the Marina Tower.
For the implementation of the project, all the necessary geotechnical researches and studies have already been completed, in order to be evaluated by the specialised geotechnical and static designers of the project and to take into account all the data required for the foundation and the structural resolution of the tower.
The studies will be submitted in a BIM (Building Information Modeling) environment, in all phases of the project life cycle.
Regarding the process of selling the apartments (200 apartments on 45 floors), according to Lamda executives, the process of expressing interest has already begun and there is great interest from potential buyers from Greece and abroad.
The first projects that will start in Elliniko
Already, in the area of Elliniko, the preliminary works have started, while one of the first projects that will start is the building for disabled people in the area near Vouliagmeni Avenue, as well as the public information centre that will be built in the marina of Agios Kosmas.
Within the next period, infrastructure projects will begin, such as the primary and secondary road network, as well as projects on the 3.5 km coastal front, which include the creation of a new 1 km long beach, open to all.
Meanwhile, the works for the creation of the Metropolitan Park will proceed, a large part of which will be completed during the first five years.
In the next two years, it is also planned, the partial completion of the sports facilities that will be accessible to the citizens.
At the same time, Lamda Development, due to the high demand, is reviewing the original development plan, starting with the decision to build 1000 additional residences during the first 5 years of the investment.
These residences were originally planned to be built during the second phase of the project, namely after the first five years.
It is recalled that the original plan envisaged the development of only 400 residences during the first five years of the project, of which 250 would be located in the tower and the rest in the area of marina of Agios Kosmas. Now, this number increases to 1,400, without excluding new changes in the future.