Construction Begins , on Massive $9 Billion, 'Smart City' Project.
'Newsweek' reports that construction is , underway on a "smart city" , three times the size of Monaco.
Developers on the $9 billion project
hope it will become a prototype for sustainable
developments around the world.
Covering an area of 6.2 million square meters,
Ellinikon is one of the biggest sustainable
urban development projects in the world. .
The project is being developed
with a focus on smart sustainable
city principles, incorporating the
most advanced technologies
and carbon neutral practices, Lamda Development, via 'Newsweek'.
The end goal is to combine thousands
of permanent residences with a commercial
hub surrounding a 600-acre public park. .
It's a genuine 15-minute city
within a city, designed to ensure
that all residential areas, parks,
beaches, sports, leisure and
entertainment venues, educational
facilities, hospitality options,
and health services are all easily
accessible within a short walk, Lamda Development, via 'Newsweek'.
Lamda Development, one of the largest real estate
investors in Greece, won a government bid to reimagine
the abandoned Hellinikon airport back in 2014. .
The first phase of the project, costing around $3.6 billion, will see
the creation of a new public beach, the public Ellinikon Park, transport and residential infrastructure.
Market demand for the residential
and commercial spaces launched
to date has far exceeded supply,
with over 8,000 potential buyers
currently on a waiting list, Lamda Development, via 'Newsweek'.
According to Lamda, Ellinikon could , "serve as a prototype for responsible
development that can be replicated globally."
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