During the first quarter of 2023, contractors are expected to complete work on the first major “batch” of construction and other construction projects in Greek. These are tenders for a total of 1 billion euros, which will begin to form the first image of the area, as they include the development of two shopping centers in the city. Lambda Development on the site, as well as the residential tower Riviera Tower, construction of which will begin in the fall.

At the first stage, the selection of a contractor for the construction of sports facilities is expected. This is a project with a budget of 100-120 million euros, which is claimed by Avax, Aktor, GEK TERNA and the Mytileneos-Intrakat consortium. The goal is to sign the contract before the end of the first quarter, with the project completed by the end of 2024.

A big “battle” is expected for the construction of a shopping center on Vouliagmenis Street, where the largest shopping center in the country will be created. Shopping complex Vouliagmenis concerns the construction of the Vouliagmenis Mall shopping center, as well as the new head offices of the Piraeus Bank Group, which will be located on the upper floors of the building. It will be a complex with a total area of ​​130,000 sq.m., of which 85,000 sq.m. will concern the leasable area of ​​the shopping center, and an additional 40,000 sq.m. will apply to offices. The total cost of this project is estimated at approximately 400 million euros.

The “Battle” is expected to be given for the construction of the Vouliagmenis shopping center, the project is estimated at around 400 million euros.

The bidding process will be similar to the process of choosing a residential tower contractor. Riviera Tower in the area of ​​St. Cosma. In particular, the contractor will first play the role of project consultant, participating in the preparation for construction, and then the final construction contract will be signed. In addition, as in the case of the Riviera Tower and the Vouliagmeni Street shopping center project, domestic construction groups will be invited to ally with foreign groups due to the experience requirements set by the project announcement. and know-how. For the Riviera Tower, the final construction contract will be signed next month between Lamda Development and the Bouygues-Intrakat consortium.

It is expected to be built on the coast of Ellinikos, in the harbor of Agios Kosmas. Marina Gallery, leased area 19,000 sq.m. and with an investment of 125 million euros. This center is different in character and style: of the 100 stores it is planned to house, 70 will be fashion houses and other luxury stores. At the same time, it will also have 30 catering outlets with a focus on restaurants, which will be signed by famous chefs. The mall is estimated to attract seven million visitors annually. Like the Vouliagmenis shopping center, it is expected to be completed by the end of 2025.

In a recent update, Lamda Development said that in Vouliagmenis Mall tenants have already expressed interest in 92% of its area, and preliminary agreements (terms chapters) have been signed for about 25% of them. Lamda Development’s goal is to sign preliminary contracts for 65% of the total area of ​​the new shopping center by 2023. With regard to the Riviera Galleria, the tenants have submitted a statement of interest for 71% of the area, while the preliminary agreements that have been concluded so far concern 3% of this area.