Lamda Development SA, the company behind Greece’s mega Ellinikon project to go up at Athens’ former airport, entered an agreement this week with Cyprus-based Brook Lane Capital for the construction of a mixed-use tower along the Athenian Riviera.

The 40-floor mixed-use tower to be erected at Ellinikon’s business district along Vouliagmenis Ave is budgeted at 500 million euros and scheduled to be completed in 2028.

Photo credit: Brook Lane Capital

The special purpose company, Ellinikon Park Tower SA, controlled 70% by a Brook Lane Capital group and 30% by Ellinikon Hospitality Investments S.M.S.A, will undertake the development of the tower.

Among others, it will include branded park- and sea-view residences, office spaces, and a 5-star hotel with luxury leisure and wellness facilities, conference rooms, and condo-style rooms.

The management of the hotel and branded residences will be awarded to an international management company.

Developer Lamda is aiming through Ellinikon to position Athens as leading international luxury destination.