Greek authorities have arrested a 58-year-old Polish national on suspicion of espionage after he was allegedly caught photographing sensitive naval activity near the Souda Bay military base in Crete.
Greece has finalized a €43 million ($46.8 million) contract to modernize seven Canadair CL-415 firefighting aircraft, a critical move to bolster the nation's defenses against increasingly destructive wildfire seasons.
Chicago, March 10, 2026
The Hellenic Initiative (THI) announced today that more than $1 million was raised in support of the people of Greece during a special fundraising weekend in Chicago that culminated in a sold-out concert by acclaimed Greek artist Konstantinos Argiros, described as the largest gathering in history of the Greek diaspora in support of Greece.
Greece’s ruling New Democracy party has widened its lead in the latest opinion polls as the escalating conflict in the Middle East becomes a primary driver of voter sentiment and economic concern.
The wife of jailed Golden Dawn chief Nikos Michaloliakos and three other former members of the neo-Nazi party were ordered to prison Wednesday as an appeals court delivered its final verdict, permanently branding the group a criminal organization.
The investment of Israeli interests promoted in the western part of the Kalamata municipality beach for a luxury tourist village with a 5-star hotel is estimated at 136.5 million euros.
The Minister of Immigration and Asylum, Thanos Plevris, has two different scenarios in his hands and is working on them, regarding the issue of a possible ban on the burqa in the country, an issue that was also discussed in Parliament.
Two foreign tankers, which had loaded Iraqi oil, were attacked in Iraqi waters, off the southern part of the country, resulting in the death of at least one sailor.
Any military strike against Cyprus is an attack on Europe, French President Emmanuel Macron has warned, projecting a unified defence front to shield the war-divided island as the military buildup rekindles historic tensions between NATO rivals Greece and Turkey.
“Greece is turning a new page. It is time for my country to consider whether nuclear energy, and particularly small reactors, can play a role in the Greek energy system,” said Prime Minister Kyriakos Mitsotakis during his intervention at the 2nd Nuclear Energy Summit in Paris, which is attended by 41 countries and international organizations.
The Hellenic Air Force (HAF) achieved a significant distinction during its participation in the 1st Air Training Series of the Tactical Leadership Program (TLP) 2026, held at Los Llanos Air Base in Albacete, Spain. The 330 Squadron “Thunder” secured first place in the flying segment, while in technical support, both the 330 Squadron and the 347 Squadron “Perseus” claimed first place.
The European Union will honor Giannis Antetokounmpo with the European Order of Merit, which is being established as the new European Order of Honor.
According to the management of Lamda Development, within this year it is estimated that the basic infrastructure associated with the first residential projects will be completed, allowing buyers to receive their apartments and settle into their new homes.
The first residents are expected to move both to the coastal zone and to the new neighborhood of Little Athens, which is the largest residential part of the development. The completion of the networks, road works, technical installations and basic urban infrastructure is a basic condition for the area to start operating as a new urban neighborhood and not simply as a construction site. The value of sales in the area has already exceeded 1 billion euros and is expected to increase this year with new sales.
Riviera Tower: The first residents in the summer of 2027
The course of Riviera Tower, the emblematic residential skyscraper being built on the Hellinikon waterfront, is of particular importance. Its construction is progressing according to the revised schedule. As Lamda Development CEO Odysseas Athanasiou stated in a conference call yesterday, the 44th floor of the building has already been completed, a significant construction milestone that triggered the pricing of the corresponding installment of approximately 60 million euros linked to the progress of the project.
The tower’s load-bearing structure, i.e. the 50 floors of the building, is expected to be completed in May 2026, about a month earlier than the initial milestone that predicted completion at the end of June. At the same time, the French construction company Bouygues is accelerating work on the remaining key parts of the construction, such as the internal configurations, the parapets and the electromechanical installationsThe overall completion of the project is scheduled for May 2027, so that the gradual installation of the first residents can then begin in the summer of the same year. According to the company's management, the cost increases that occurred during the construction of the tower have already been reflected in Lamda Development's financial statements, following the latest revision of the contract with Bouygues.
The big bet on the delivery of the first homes
Lamda Development estimates that the basic infrastructure required to service the first homes will be completed on time, so that the first apartments can be delivered to buyers in 2027 both in the coastal zone and in the Little Athens neighborhood. These projects include extensive utility networks, roads, technical works and urban configurations that will support the operation of the new city.
Little Athens: The great new neighborhood of Hellinikon
Special mention is also made of the progress of the residential projects of the new Little Athens neighborhood. According to Lamda Development's management, the picture of the constructions is now clearly improved compared to the early stages of the development.
The work is coordinated by the company’s internal construction unit, which was created to strengthen control over both costs and implementation schedules. This unit works directly with subcontractors and allows for better coordination of projects.
As the company’s CEO explained, the first projects developed in the coastal zone - such as Riviera Tower and some of the initial residential projects - essentially served as a “learning period” for the company. The difficulties of the construction market, increases in material costs and delays did not leave large profit margins in the first projects.
Today, however, the company estimates that it has now gained greater experience and better control over the implementation of projects, which allows for more effective management of costs and construction time.
Undergrounding Poseidonos: A complex project with a horizon of 2028
Despite the progress of the works, one of the most complex technical projects of the development remains the undergrounding of Poseidonos Avenue. This is one of the largest infrastructure projects of the project, which is being implemented in a particularly demanding environment, in close proximity to the sea and with intense vehicle traffic. For this reason, the completion of the project is scheduled for the first half of 2028.
The undergrounding of Poseidonos is considered of key importance for the overall operation of the new city, as it will allow the unification of the coastal front with the rest of the development, creating a single urban and coastal space.
Metropolitan Park and sports infrastructure
In parallel, progress is also being made in
important public infrastructures that will shape the character of the new city. Within the framework of the Metropolitan Park of Hellinikon, with a total area of approximately 2 million square meters, plantings, landscaping and sports facilities are progressing.
The sports park of Hellinikon is expected to be delivered to the public in the summer of 2026 and will include four football fields, a track and field stadium, a throwing field, as well as tennis and basketball courts. Another section of the park is scheduled to be completed in 2027, with extensive plantings and repositioning of trees.
These specific infrastructures are considered particularly important, as they will function as basic public sports and recreation areas for both the residents of the new development and the citizens of the surrounding areas.
Shopping centers and educational infrastructures
Significant progress is also being recorded in the commercial part of the development. Commercial agreements for the two large shopping malls being developed in Elliniko have been progressing at a steady pace over the past year and a half, with demand from retailers remaining high.
The Riviera Galleria, the shopping mall being built at the Agios Kosmas marina, is already under construction and is expected to be completed in late 2026 or early 2027. Its operation is estimated to begin in spring 2027, most likely around the Easter period.
The second large shopping mall to be developed on Vouliagmenis Avenue is still in the licensing process. Lamda Development is awaiting the signing of the relevant license in order to begin construction work, while the opening of the project is scheduled for late 2028 or early 2029.
In parallel, the education projects that will be hosted in the new city are also progressing. The Costeas-Geitonas schools are expected to start operating in the fall of 2027, while the University of Nicosia campus is also scheduled to open in the same period, creating the first private university to be established in Hellinikon. The studies have already been completed and construction work is expected to begin soon, with the aim of starting operations in 2028.
The expectations of the local community
The findings of two public opinion surveys presented by Lamda Development regarding the acceptance of the project by the local communities are also interesting. According to these data, approximately 90% of citizens in the neighboring municipalities express a positive opinion of the company, while 76% evaluate the overall impact of the investment positively.
At the same time, the main demands of the residents are mainly focused on the enhancement of greenery, the development of more sports and recreation infrastructure, the improvement of beach care, as well as actions to support vulnerable social groups. The company reports that initiatives are already underway regarding the environment, the climate adaptation of the area, and the limitation of the nuisance caused by large construction sites.
