Athenian Riviera: New investment and business deals

One more investment comes to be added to the investments and major tourism residential redevelopment projects, which are in full swing on the Athenian Riviera.

Last week in particular, Henderson Park and Hines announced the start of construction on Apollo Hills, a €200 million residential development project in Voula. At the same time, they are collaborating with Greece Sotheby’s International Realty for the sale of the homes of the new luxury residential complex in Voula.

The announcement, as noted, marks the first time such an exclusive partnership has taken place in Greece, which combines Hines’ strong global footprint in residential development with Greece Sotheby’s International Realty’s significant reach in the respective markets.

Apollo Hills, designed by architectural firm Porphyrios Associates, is expected to transform an urban spot into a sophisticated residential community, according to the partners.

The specific project, for the creation of which the Greek architectural office Diarchon collaborated, highlights Voula as one of the most attractive suburbs of the Athenian Riviera, while also creating a new reference point for sustainable residential development through BREEAM-certified green architecture of. Aiming to give back to the local community, Apollo Hills has allocated more than 11,000 sq.m. for the creation of green spaces, sports facilities and parks in the area. In addition, the community is created with absolute respect for the existing urban planning rules and the natural environment of the area. Strategically located, just 16 kilometers south of the center of Athens, at the southwestern foothills of Ymittos, Apollo Hills combines easy access to the city with direct contact with nature, setting a new standard for the quality of life in Athens.

Among other things as announced, the complex features an outdoor swimming pool, an outdoor children’s playground and an indoor swimming pool, aimed at all ages, modern spa and gym facilities and private gardens as well as 24-hour concierge services and underground parking.

Nick Weber, CEO of Henderson Park, states that with Apollo Hills the goal is to create a residential community, which will be a new model of luxury and sustainable development in Athens.

Paul Gomopoulos, Senior Managing Director and Head of Hines Greece, points out that Apollo Hills is not just a residential complex, but a testament to what Greece can achieve. Apollo Hills puts Athens on the international map for discerning home buyers. This particular residential complex is practical proof of Hines’ commitment to Greece and dedication to quality projects and timeless architecture.

Savvas Savvaidis, President and CEO of Greece Sotheby’s International Realty stated that Apollo Hills is an iconic residential complex, designed to meet the high demands and expectations of the Greek and international buying public, while he pointed out that a significant number of pre-bookings are already recorded which are expected to intensify with the official launch of sales

Athenian Riviera: Investments of hundreds of millions of euros – The comparative advantages

In the Athenian Riviera which is a coastline of approximately 70 kilometers in length in the south-eastern part of the prefecture of Attica, extending from the port of Piraeus to the cape of Souni, in addition to the largest urban redevelopment in Elliniko, which is in full progress by LAMDA Development, in the course of implementation are a series of residential and tourist renovations with investments of hundreds of millions of euros that lead to the further upgrading of the area and the municipalities they include. Many new jobs are thus created both during the projects and on a permanent basis, thus strengthening the local communities and the business in general.

As real estate development companies point out, the uniqueness of the Athenian Riviera beyond its natural beauty and climate lies in the fact that it is accessible in just 20 minutes from the center of a major European capital.

Another comparative advantage of the Athenian Riviera, as real estate market executives have pointed out in public statements, are the sales prices which, despite the fact that they have increased significantly compared to the past, are still far below the sale prices of real estate in France Riviera, the Spanish, the Italian, etc. As the real estate market, not only in Greece but worldwide, is also addressed to an international audience, the price comparisons are not made at the domestic level of the country, but at the regional and international level, with the result that the Athenian Riviera has a comparative advantage. Characteristic of the high demand in the area are the sales of houses in Elliniko.

As the managing director of LAMDA Development Odysseas Athanasiou stated in an interview with Bloomberg, 500 apartments/houses that have been put up for sale so far as part of the Hellinikon redevelopment have already been sold out, with demand also being strong for the new properties that they go on the market.