The Skyscraper That's Dividing Europe

Summary

The video examines the Ellinikon redevelopment on the Athens Riviera, focusing on its most controversial feature: the Riviera Tower, Greece’s first skyscraper.

The redevelopment

The Ellinikon covers an area described as three times the size of Monaco. Athens International Airport closed in 2001, and the former airport site—including nearby venues from the 2004 Olympics—was left largely unused for years. In 2014, Lamda Development secured a 99-year lease to redevelop it.

The mixed-use plan includes thousands of homes, a hotel and casino, shops, offices, schools, healthcare and sports facilities, a marina, a public beach, and a large park. Planned green space totals about 2 million square metres, making it larger than London’s Hyde Park. Some parts of the development are planned around the idea of a “15-minute city.”

The Riviera Tower

Designed by Foster and Partners, the Riviera Tower is planned to reach 200 metres and contain 169 luxury residences. The apartments are arranged on either side of a central spine, with gardens and infinity pools alternating across floors.

Other high-profile designs in the development include the Riviera Galleria by Kengo Kuma and Park Rise by Bjarke Ingels Group.

Why a skyscraper is unusual in Athens

Athens generally limits buildings to 32 metres to protect views of historic landmarks such as the Acropolis and Parthenon. The Ellinikon development received special approval for buildings up to 200 metres, with the Riviera Tower reaching that maximum. The site is about six miles from central Athens, a distance officials cite in arguing that it will not interfere with historic sightlines.

Some existing buildings in Athens exceed the usual height limit. They were built during the 1960s and 1970s, when the military dictatorship relaxed restrictions to encourage investment. After the regime fell in 1974, the rules were reinstated. The Riviera Tower required approvals from several authorities, including the Civil Aviation Authority, the Central Council of Architecture, and the Fire Service.

Construction milestones

The tower’s foundation uses more than 100 piles, each 1.5 metres in diameter and driven as deep as 50 metres into bedrock. The foundations included about 7,500 cubic metres of concrete and 1,760 tonnes of steel reinforcement. Construction of the 50-floor tower began after the foundations were completed.

The subtitles place the tower’s topping out in July 2026 and describe the project as five years into construction.

The economic case and controversy

Greece’s debt crisis and the desire to attract investment provide important context for the project. Supporters argue that Ellinikon can draw tourism and foreign investment, bring more than a million additional visitors annually, generate substantial tax revenue, and contribute to national GDP. The redevelopment is also presented as a way for Greece to demonstrate its recovery from past economic troubles.

The deal remains contentious. Lamda acquired the lease during the debt crisis, when it was reportedly the sole bidder, for €915 million. Critics question whether public land was sold too cheaply and object to the project’s luxury focus. The video notes that property sales had already exceeded €1.5 billion by the end of 2025, while Riviera Tower residences were being marketed for as much as €25 million each.

Legal challenges have also questioned whether some exceptions to building rules—particularly for the Galleria and hotel-casino—were lawful.

Public opinion and access

The subtitles cite polls showing significant opposition. More than 70% of residents surveyed in 2016 were unhappy with the government’s handling of the privatization, while a 2025 poll found 63% opposed to the Riviera Tower and 41% opposed to the wider redevelopment.

Lamda argues that facilities such as the park and sports areas will be open to everyone. Critics remain concerned, however, that much of the housing and retail will be unaffordable to local residents.

Preserving the site’s past

Some elements of the airport and Olympic history are intended to remain. Part of the former airport terminal is planned as an exhibition space, a Boeing 747 left at the site is expected to become a museum exhibit, and the canoe slalom course may be incorporated into the new park.

The wider question

The development could establish a precedent for more high-rises in Greece, although the video notes that the tower was approved under exceptional circumstances and already reaches the permitted maximum.

The project is presented as a trade-off: redevelopment and investment on one hand, and the loss or privatization of a place with public and historical significance on the other. Its long-term effects—and whether the compromise will be accepted—remain uncertain.

Speakers and sources featured

• The B1M narrator/presenter — Unidentified in the subtitles; provides the main report and sponsor segment.
• Shirley Ghosh — Named presenter in a news clip about Greece’s debt crisis.
• Unidentified news clip speaker — Comments on the legacy of the South American Olympics.
• Lamda Development CEO — Quoted discussing public access to the development; not named in the subtitles.
• Lamda Development — Project developer and a source for the development’s plans and public-access claims.
• Rayon Design — Video sponsor, featured in an advertisement read by the narrator.
• Named design firms and architects: Foster and Partners (Riviera Tower), Kengo Kuma (Riviera Galleria), and Bjarke Ingels Group (Park Rise).