The first floors of the Riviera Tower, a residential high-rise to stand along the southeast Athens coastline, have gone up in recent weeks, marking visible progress in the massive Ellinikon privatization by Lamda Development, the project’s concessionaire.

Billed by ATHEX-listed company as the highest “green” skyscraper in the Mediterranean, construction of the building comprises a landmark in progress for the real estate development, which is valued at seven billion euros – one of the biggest such projects in Europe.

In a released video, Lamda Development said the 50-storey high-rise will be ready in the first quarter of 2026. The Athens-based developer has previously announced that 170 residences in the high rise, building lots for the adjacent “Cove Villas” community and planned condominiums at the “Cove Residences” community are sold out.

Foundations for the high-rise were laid last October began last October, with one portion of concrete laying continuing for 40 uninterrupted hours – the longest such work ever undertaken in Greece.

Foster+Partners is the skyscraper’s designer, while the construction contractor is Bouygues Bâtiment International, in partnership with local contractor Intrakat.