When will the luxury maisonettes of Japanese architect Kengo Kuma in Hellinikon be ready - Who's buying, when will the Club open

Who is buying at Marina Residences by Kenko Kuma
The construction work has been undertaken by EKTER, which has already done the skeleton of the project, with the aim of completing the project within 2027. Specifically, September 2027 is considered a key date, as the first residents are expected to move into Marina Residences at that time. This is a milestone not only for this development, but for the Hellinikon mega project as a whole, as a significant part of the first phase of one of the largest urban development projects currently underway in Europe is expected to be completed within the same year.

On a commercial level, the sales trend of the 20 luxury residences is already particularly strong, as approximately 65% ​​of the available residences in the complex have been reserved or sold.

Buyers come from both Greece and abroad. Approximately 45% are Greeks, either residents of Greece or members of the Greek diaspora, while another 45% come mainly from European countries. The remaining 10% are investors and buyers from the Middle East.

Interest continues to grow both through the company's direct promotion and through the network of partners and brokers who commercially support the project. According to Orilina's management, the profile of buyers mainly belongs to the category of particularly wealthy investors, who are looking for a property of high prestige and strong symbolic value.

The company itself estimates that Marina Residences fully meets this demand, thanks to its unique location, its architectural identity and the level of services it will offer. The project will feature organized residential management and personalized service services, further enhancing the luxurious character of the development. The residences are intended for both primary and secondary residence, falling into the category of high-profile and high-value properties.

The private club that brings a new concept to the Greek market
A central element of the Orilina development in Elliniko will be the private club, the first phase of which is also being built by EKTER. The Marina Yacht Club, as it has been named, will have a total area of ​​24,533 sq m. and will also bear the signature of the internationally renowned architect Kengo Kuma.

The Private Club will offer a multitude of dining and leisure options, as well as extensive sports and relaxation areas, such as swimming pools, tennis courts, paddle tennis courts and modern fitness areas. Inside, three restaurants and a nightclub will operate, while a cigar room, wine cellar and wellness center will also be included, composing a complete entertainment and relaxation experience.

According to the plan, the exclusive club will open in 2028, as it is a project with a greater degree of maturity and complex operational requirements. In fact, the club will not be addressed exclusively to the owners of the Marina Residences residences. Already, according to Orilina, strong interest has been expressed by residents of other residential developments in Hellinikon, who wish to gain access to its services and facilities. The procedure and participation criteria are expected to be presented at a later stage.

The development of the private club was integrated into Orilina's overall strategy, in order to create an additional, stable revenue stream from its operation, in addition to the revenue that will arise from the sales of residences. The company's strategy is also based on two main pillars. The first concerns the income property portfolio, i.e. a diversified portfolio of different uses that ensures stable cash flows and supports the company's dividend policy. The second pillar concerns new developments, through which the company seeks to create capital gains by utilizing the plots it acquired in Elliniko from Lamda Development.

Low debt and new projects

Management points out that the company maintains low debt, as about three years ago it proceeded with a share capital increase, with the funds from that period being directed to the Hellinikon projects. At the same time, the successful pre-sales ensured the required liquidity to promote the remaining investment moves.

Although it maintains an active financing line with a bank for greater flexibility in new developments or acquisitions of income properties, the company notes that it carefully exploits market opportunities, seeking a balance between development and investment risk.

At the same time, Orilina is proceeding with the activation of new projects beyond Hellinikon, expanding its footprint in strategic areas of the country. Among these, the exploitation of the listed property it has acquired in Roloi Square, in Piraeus, which is currently in the study stage, stands out. The company's goal is to develop a modern alternative housing complex, adapted to new trends in accommodation and hospitality. The property is located at the intersection of Makras Stoas 13, Ethnikis Antistaseos 2 and Tsamadou 18, in a particularly central location in Piraeus.

At the same time, the company is planning new mixed-use projects in Thessaloniki, on the eastern side of the city and close to developments by Lamda Development. Specifically, Orilina owns two plots of land adjacent to the Mediterranean Cosmos shopping center, where the development of a multifunctional complex is being considered that will include alternative forms of housing, either short-term or long-term residence, commercial spaces, offices and possible sports facilities.