First park ready at Helleniko property development site

Lamda Development on Monday announced that the first park at the massive coastal Helleniko site, billed as one of the biggest real estate projects in Europe, has been completed ahead of time.

The seven-hectare greenspace, dubbed the “Experience Park”, comes six months after a long-term concession contract between the Greek state and ATHEX-listed Lamda was finally concluded – more than 20 years since the former Athens airport and various other related facilities operated at the site.

According to Lamda, the park was delivered ahead of time, and marks the first commons in its “The Ellinikon” property, as it has dubbed the massive property development, an iconic privatization that it values at upwards of seven billion euros.

The entire 700-hectare site will host at least a couple shopping malls, a “big box” retail park, up to six high-rise towers, a new marina, a luxury residence row, entertainment venues, and the prospect of an integrated casino resort, all amid what the developer also promises to be the largest expanse of purpose-built greenspace in the congested greater Athens area.

The “draw” for the new park, according to the property developer, is a multiple fountain field next to three small former military hangars – which Greece’s culture ministry had previously, and controversially, declared as modern structural monuments.