Page 32 - ATHENS RIVIERA JOURNAL 2024

ATHENS RIVIERA JOURNAL
word of mouth

The Ellinikon
stands as a

pioneering

urban

revitalization
project situated

on the historic

site of the

former Ellinikon
International

Airport in
THE ELLINIKON PARK
Meticulously designed to cater to Athens.
your holistic well-being, it offers
a serene respite from the brisk
cadence of urban life.
A series of investments breathe new life into ment’s is the most impressive. In addition to The Mall Athens, Golden Hall, UNPARALLELED HOSPITALITY

Athens, and the changes are only picking up
Designer Outlet, and Flisvos Marina, it’s responsible for the urban renewal of
speed. As Greece’s real estate flourishes, the
The Ellinikon, a historic airport turned cutting-edge city, combining mod-
capital sees a new hotel, multiplex, or attrac-
ern, green architecture with natural coastal beauty. It promises billions in
national revenue and thousands of new jobs, while bolstering tourism with
tion spring up around every corner.
wonderful experiences, whether in the city or along the Athenian Riviera.
If that’s not promising enough, the investors
DIMAND is another influential player nudging Greece into the spotlight.
transforming Athens into a vibrant must-see
Live the experience in Attica, whether at Fresh Hotel, a Member of Design Hotels (above), and Athens Key Hotel
regeneration projects. Piraeus Tower, Votanikos Business Park, Piraeus Port
that appreciate the city’s character, as well as
Plaza, One & Only Aesthesis, Enso Hotel Piraeus, and the former MINION
the benefits of augmenting its allure for the
whole world to see. destination are largely international companies The company delves into all kinds of corporate, retail, hospitality, and urban PHOTO: DESIGN HOTELS by Zeus International Hotels & Resorts (bottom left) in the heart of the city or at the One&Only Aesthesis, Athens in Glyfada (bottom right).
building are some of its prestigious ventures. MINION, for example, a once
Learn more about the key players and what hospitality and tourism oppor- bustling department store, sat forlorn since 1998, until DIMAND bought
tunities their efforts create for Athens. it at auction in 2021 and decided to revive it. The outcome of this €30
million investment is to be a super modern, mixed-use, and eco-friendly
how major investors capitalise on greece’s real building with a LEED Gold certification.
estate Brown Hotels has also established itself as a hospitality leader in Athens and
Old buildings take up a large part of the real estate market in Greece. At the other popular Greek destinations. The capital alone offers visitors six hotels
same time, one in two foreign buyers only want to invest, while one in five to choose from: Brown Lighthouse Athens, Brown Acropol, Villa Brown
are looking for property to live in, according to RE/MAX, the country’s Ermou, Brown Kubic, Dave Red – Son of a Brown, and Brown Spices. Each
largest real estate network . property was bought and designed to maximise its guests’ enjoyment, com-
Further research in 2022 revealed that Greek real estate was most popular fort, and immersion in the local culture.
among buyers from Israel, China, and Germany. Around 55% of buyers This eye for opportunity and eagerness to embrace the lifestyle and spirit
chose properties valued between €100.000 and €300.000, but 12% spent of Athens is something the city’s top investors share. That combined with
up to and over €400.000 on prime assets. practical, forward-thinking initiatives adds to the new and improved image
Between foreign and domestic investors, the competition for real estate and of the country as a whole, not just as a superb tourist destination, but also
innovation in Greece is fierce. Among its success stories, Lamda Develop- as a multicultural, metropolitan power in its own right. >

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