Lamda Development is examining the offers of Terna (GEK Terna group), Metka (Mytilineos group) and Intrakat – Aktor for the construction of the Riviera Galleria on the beach front of Ellinikon.
It is one of the two shopping centers in the development of the former airport (the smallest in terms of square meters), with Lamda noting that it will be the first organized high-end retail and gastronomic destination in Greece. It was designed by the internationally renowned architect, Kengo Kuma. The construction cost, as recorded in the environmental study of the project, reaches 80 million euros (without the contractual benefit and VAT).
The total investment is estimated at approximately 250 million euros (including financing costs, land, etc.) and based on the official data provided by Lamda for the two shopping centers in Ellinikon, which are as follows: the total cost for Vouliagmenis Mall and Riviera Galleria is 1.052 billion euros (construction budget 656 million, land and infrastructure costs 263 million, other costs 133 million). Their financing will come from equity (271 million), bank loans (575 million) and from office sales and other sources (206 million).
