Athens’ Building Boom: How Urban Development is Transforming the Greek Capital
Athens has experienced a significant uptick in construction and infrastructure projects, aiming to revitalize the city while addressing demands in residential, commercial, and hospitality sectors. Over the past few years, especially post-pandemic, construction activity has surged. As of 2023, private building volume increased by around 16.5% over the first eight months, driven largely by new residential and mixed-use developments. This increase is supported by substantial investments into high-profile projects, which are reshaping Athens’ urban landscape.
Some key developments include the transformation of the former Ellinikon Airport into Europe’s largest private urban development, which alone is expected to contribute about 3% of Greece’s GDP through new residential, office, and entertainment spaces. Additionally, the Votanikos area is being revitalized with Greece’s largest park, sports facilities, and residential buildings. Another notable project is the expansion of the Athens Metro (Line 4), which, when complete, will add 13 kilometers of underground transit, improving access across central neighborhoods by 2029.
This boost in construction is underpinned by international and local investments, with an estimated €20 billion earmarked for 2024 alone, showcasing the momentum Athens is gaining as it modernizes and adapts to new urban and environmental standards. This ongoing expansion highlights the city’s attractiveness as a growing hub for investment and development in the Eastern Mediterranean region.
For more detailed insights on current projects and Athens’ construction outlook, you can read further on platforms like Greek Reporter and eKathimerini.