The Riviera Tower is Open. But is the “New Athens” Just for Millionaires?

For twenty years, the old Hellinikon airport was a wasteland of rusting Boeings and broken promises. Today, it is officially the most expensive zip code in Greece.

As of January 2026, The Ellinikon—the €8 billion “city within a city” on the Athenian coast—has crossed the finish line of Phase 1. The Riviera Tower, now Greece’s tallest building at 200 meters, has welcomed its first residents. The marina is open. The “Experience Park” is green.

A Green Lung
Walk through the park today, and it is hard not to be impressed. This is what Athens has desperately needed for decades: space. The developers didn’t just pour concrete; they planted 31,000 trees. They buried the noisy Poseidonos Avenue underground to reconnect the city to the sea. For the average Athenian family, this is a massive win. The park is public, the beach is accessible, and the infrastructure is a glimpse of a sustainable future where Athens isn’t synonymous with traffic jams.

The Golden Visa Ghetto
But look up at the Riviera Tower, and the story changes. The apartments here sold out months ago, largely to foreign investors chasing Golden Visas. Prices hit €15,000 per square meter—numbers that are laughable to a local workforce earning an average of €1,200 a month. Critics argue that Ellinikon is destined to become a “ghost city” of high-net-worth individuals who only visit for two weeks in August. While the park is democratic, the economy of this new district is distinctly feudal.

If you are visiting Athens this year, go. The architecture is stunning, and the sunset from the new marina promenade is unbeatable. But don’t mistake this for Greece. This is a globalized, sanitized enclave. It’s beautiful, yes. But you’ll have to go back to Plaka to find a coffee that costs less than €6.