On the sunny shores of Athens, an ambitious vision is taking shape – transforming the Greeks’ former airport into the largest smart city in Europe. After years of delays, the Ellinikon smart city project is finally gaining momentum, with construction recently starting on the development’s first skyscraper, the Marina Tower.
Set to be completed by 2037, the massive €8 billion (RM40.7 billion) Ellinikon project will increase Athens’ green space by 44% across its sprawling 6,200 acres. This first-of-its-kind sustainable urban development is the brainchild of Lamda Development, which won the project tender back in 2014.
The Largest Smart City in Europe – A Glimpse of the Future When complete, the largest smart city in Europe will boast cutting-edge amenities centered around sustainability, open spaces, and integrated smart technologies. Renderings depict a utopian eco-friendly community comprising:
- Europe’s tallest coastal skyscraper (Marina Tower)
- A luxurious Mandarin Oriental hotel and casino resort
- Two major shopping malls
- Pristine 1.5 million sq meter coastal park (Europe’s largest)
- Seaside residential neighborhoods with 10,000+ homes
- Sports facilities with pools, soccer fields, tennis courts
- Smart waste, water and energy management systems
Developers envision Ellinikon as a model “15-minute city”, where residents can walk to schools, parks, beaches, offices and shops within a 15-minute radius. A new metro line will also connect this futuristic smart city to central Athens.
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The Road to Europe’s Largest Smart City
The path to realizing Europe’s largest smart city project has been turbulent. When Lamda purchased the former Ellinikon Airport site in 2014, it was a blighted mess – littered with abandoned aircraft, occupied by refugees, and dotted with dilapidated sports venues.
“Justifiable disbelief surrounded the project in its early days,” admits Odisseas Athanasiou, CEO of Lamda Development. “We had a construction sector in Greece which had reached its lowest point in ten years due to the economic crisis.”
Compounding issues were permitting delays, skyrocketing construction costs from the Ukraine energy crisis, and a persistent labor shortage. Lamda expects to need around 7,000 workers next year alone for building the Ellinikon mall.
Despite the hurdles, Ellinikon’s first residential units have already hit the market – with 140 of the 243 available homes quickly selling, mostly to Greek buyers. The Marina Tower is slated to top out at 330 feet by late 2024.
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An Economic Boon for Greece
Once fully built out, estimates suggest the largest smart city in Europe could generate:
- €25 billion contribution to Greece’s GDP
- 80,000 new jobs
- Over €10 billion in tax revenues
- 1 million additional tourists per year
For a country still recovering from crippling economic turmoil, Ellinikon represents a vital path to renewed growth and prosperity. As Athanasiou states, “It’s a smart city end-to-end…we like to call it ‘Zip Code Paradise.'”
With cranes now dotting the skyline, the vision of transforming Ellinikons‘ abandoned airport into the largest smart city in Europe is finally becoming a reality. All eyes are on Ellinikon as this sustainable urban frontier begins taking shape.
