One of the symbols of a new era for Athens is the large-scale Ellinikon project. On the site of the former airport, around 9,000 residential units, commercial and business centers, hotels, recreational areas, and parks are planned to be built. One of the architectural landmarks of the new district will be the Riviera Tower skyscraper. The first phase of the project is expected to be completed in 2027–2028. Thanks to its location on the coast, residents of the new district will have direct access to the Athens Riviera and views of the Aegean Sea. ## A New City on the Site of the Airport Ellinikon aims to create a nearly complete city within a city. In addition to housing and offices, the Riviera Galleria — a premium complex with shops and restaurants — will be established here. Another major facility will be The Ellinikon Mall, covering approximately 100,000 square meters. It is planned to house around 340 stores. The project's developers also promise to pay special attention to ecological technologies and the creation of green spaces. However, new real estate is far from the only reason for the growing interest of foreigners in the Greek capital. Greece offers special tax regimes for certain categories of new residents. In particular, a 50% exemption from income tax on part of the earnings is provided for eligible workers and digital nomads, while some foreign retirees benefit from a favorable tax regime on foreign income. Additionally, the country has residency programs for digital nomads, retirees, and investors, including the Golden Visa. ## Cheaper Housing, More Sunshine Despite a noticeable rise in prices in recent years, the cost of living in Greece remains attractive to some foreigners. The original publication, citing Numbeo data, claims that rental housing in the country is about 60% cheaper than in the United Kingdom. Among other advantages, Athens is noted for its climate — about 2,773 hours of sunshine per year, a developed restaurant and cultural scene, international schools, and a relatively widespread use of the English language. Certain neighborhoods in the city are also changing. For example, Neos Kosmos, once considered predominantly a working-class district, is gradually becoming a hub for creative professionals. Independent shops, restaurants, exhibition spaces, and cultural venues are opening here. ## Athens Instead of Dubai? In recent years, wealthy foreigners have been actively attracted to Dubai, Abu Dhabi, and Doha. Now Athens is trying to offer a different model of comfortable living — a European capital with the sea, a warm climate, modern real estate, and a rich history. ...If the Ellinikon project is implemented on the planned scale, the appearance of the southern part of Athens will change significantly. The Greek capital aims to preserve its ancient heritage while simultaneously acquiring a completely new face — with skyscrapers, modern residential buildings, and infrastructure designed also for wealthy foreigners.
