After years of delay, Greece is again on the path of giving a futuristic makeover to an unused airport and turning it into the “largest smart city” in Europe.
The massive smart city project will be built on the former Ellinikon Airport site near Athens. Geographically, the defunct airport is located on the southern coast of Greece.
The project developers claim that the smart city will have high-end residences, ample open and green spaces, and sustainable energy sources.
“There was justifiable disbelief,” said Odisseas Athanasiou, CEO of Lamda, the company leading the venture, on the years of setbacks the project has faced.
However, as per some reports, the developmental activity on the site has now intensified. The Marina Tower, which will become the country’s first skyscraper after completion, is already under construction. Besides, one can also see the framework for condos here.
Larger-than-life project
Ellinikon is a megascale future-city project envisioned by Greece. It will be spanned over a staggering 6,200 acres.
Moreover, Ellinikon will be located just a 20-minute drive from Athens, making it convenient for people to travel between the two cities.
This first-of-a-kind city aims to create the perfect blend of luxury, sustainability, and cutting-edge technologies. It will offer a range of experiences to residents and visitors alike.
Ellinikon will house a luxurious Mandarin Oriental hotel and an integrated casino resort. Plus, it will feature Europe’s largest coastal park and residential spaces with mesmerizing seaside views.
In addition, the city will have two massive shopping malls and a sports complex with facilities for swimming, soccer, and tennis.
Ellinikon will also be a true “smart city,” with technology integrated into waste, water, and energy management.
Attracting a large number of people
The demand for residential space within Ellinikon is evident. Of the 243 units initially offered in the “Little Athens” neighborhood, 140 have already been reserved.
High-end properties, such as those within the Marina Tower and beachfront villas and condos, were among the first to sell out.
As of last March, Lamda announced that proceeds from property sales reached a total of around $690 million.
“By Christmas of 2026, we want residents to be living in their houses,” said Athanasiou.
Big economic picture
Ellinikon also has major economic benefits. According to projections, it will add 2.5 percentage points to the nation’s GDP and could generate 80,000 new jobs.
It is also projected to generate around $10.7 billion in tax revenue after getting completed in 2037. Additionally, the smart city is expected to attract about one million tourists a year.
The development of Ellinikon is a major feat in Greece. Athanasiou noted that the construction sector in the country had fallen to “its lowest point in ten years.”
“People had left the country, and construction companies weren’t as strong as they used to be. Increased construction costs due to the energy crisis after the incident in Ukraine added to this situation,” he stated.
Now that Greece’s once “bankrupt” economy is showing signs of revival, the Lamda CEO is confident about the growth of the “smart city” project.
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Autor(en)/Author(s): Aman Tripathi
Quelle/Source: msn, 27.05.2024
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