As noted by the listed company in its recent corporate presentation, the total value of contracts signed for residential units at Hellinikon stands at €1.9 billion. As of 30 November 2025, €1.1 billion had already been collected, while the remaining €800 million pertains to agreed sales that will be received gradually, depending on project progress and unit deliveries. At the same time, cumulative receipts from the residential component of the project, from the start of sales to date, amount to €1.6 billion, underscoring the decisive role of the residential sector in financing and the overall development of the mega-project.
Strong demand along the coastal front
Demand remains particularly robust along the coastal front of Hellinikon, where all 315 residential units released to the market—Riviera Tower, Cove Villas, and Cove Residences—have already been fully absorbed. The sales rate stands at 100%, with average prices at €12,300 per square meter, confirming the positioning of these developments in the upper segment of the residential market.
Within the core residential area of the project, Little Athens, 671 units have been released, with absorption reaching 84%. Complexes including Park Rise, Pavilion Terraces, Promenade Heights, Atrium Gardens, Trinity Gardens, and Sunset Groves are experiencing steady sales momentum, with average prices at €9,400 per square meter, reflecting a more “mass-market” yet modern development character.
New sales phase in 2026
Strong demand resulted in the complete depletion of available residential inventory by October 2025. For a period, LAMDA Development had no new residential projects immediately available on the market, as some projects had not commenced due to changes in the New Building Regulation (NOK), affecting the company’s planning. Against this backdrop, the company plans to launch a new sales phase within the first quarter of 2026, introducing approximately 330 new residential units to address the supply gap and respond to ongoing strong demand.
Equally significant is the profitability level of the residential developments. For Phase I of the project, totaling approximately 222,000 sq.m., LAMDA Development estimates gross profits of €750 million, with an average gross margin of 32%. Of this, the coastal front contributes gross profits of €271 million, with a 24% margin, lower due to the higher construction costs of premium developments.
By contrast, margins in Little Athens are even higher, with total gross profits estimated at €479 million. Notably, the Mainstream Alimos and Mainstream Posidonos projects exhibit gross margins of 39% and 43%, respectively, significantly enhancing the overall efficiency of the residential segment.
