Richard Crosby: The Southern Suburbs through the eyes of an international investor
A member of the active expat community tells the story of how the Southern Suburbs became his new investment and personal destination.
- 15/07/2025, 12:12
Having travelled a long way, in global markets, from the financial centers of London and Hong Kong to the other side of the Atlantic, Richard Crosby found in the Athenian Riviera something that few places offer: stability, perspective and away of life that expresses him. With profound experience in the investment world and a relationship with Greece that goes back decades, he talks about entrepreneurship, the changes taking place in the Southern Suburbs, the dynamic community of expats who live and work there, and the unique energy of a place that combines work and life in an authentic way.
From the 1980s to today’s Greece
Richard Crosby’s first contact with Greece was in the 1980s, when he came here as a young banker. “It was an extremely productive period for me, both professionally and personally”, he recalls. That bond has never been broken. Today, through London-based Astir Capital, he and his wife, Christina Costaridi, are active in venture capital, real estate investments and niche markets, often working with clients with roots in Greece. The most important thing, he says, is chemistry: “We don’t quarrel easily. Each of us has other interests. It’s nice to share the work with your partner, without it becoming a burden”.
Their shared understanding of values and business approach is also reflected in Astir Capital’s philosophy. “We are known as an alternative investment house”, he explains, “but we pride ourselves on our ability to identify niche opportunities”. Greece’s evolving startup scene is, as he notes, a major driver of his business activities. “There are many quality startups, especially by Greek founders living here in Athens and abroad”.
The Ellinikon, the political shift and the light that… attracts the film industry
Speaking of developments in Attica, and especially in the Southern Suburbs, Richard Crosby appears optimistic. “Athens has changed tremendously. The infrastructure has improved drastically. From Glyfada you can go to Kolonaki in 20 minutes; in the past, this seemed impossible. The city now has good mobility, excellent hospitality and a vibrant social scene”.
The project of The Ellinikon is, in his opinion, pivotal. “A construction site the size of Monaco, which is going to radically change the landscape of the Southern Suburbs. The interest is huge, from local investors to international capital from Israel, Lebanon, Saudi Arabia, Qatar, Egypt and Northern Europe”.
At the same time, he reveals a less prominent but rapidly growing aspect of the Greek economy: the film industry. “Greece is slowly turning into the Hollywood of Europe”, he says. “Last year, 92 films were shot in Greece. There is legal support, tax incentives and of course… the light. Greek light is incomparable for film shooting”. He also highlights that several in ternational production companies have already set up shop or are collaborating with local providers. “The government has become friendlier towards them. An ecosystem has been created that attracts creative projects and, with them, new jobs and infrastructure”.
Life in the Southern Suburbs and the Greek soul
Beyond his business activities, Richard Crosby speaks enthusiastically about life in the Southern Suburbs. “Greece offers a unique way of life: sunshine, sea, activities all year round. The light is the best in Europe. Every morning, you open your eyes and see a blue sky”. However, what impresses him the most is the attitude of the Greeks. “Even in times of crisis, people manage to smile. This ability to enjoy life is very attractive to a foreigner”.
The expat community in the Southern Suburbs has, as he observes, changed its face in recent years, but it is still one of the most vibrant and internationally oriented groups in the country. “It’s not the way it used to be. There are now noticeably fewer British people. Instead, you see more French people – mainly because of the French schools – and quite a few Israelis, many of whom are active in the technology sector or have families settled in the area”
Published in “White Paper: The Big Business of the South”, NouPou Media’s special edition spotlighting the current landscape and future prospects of the Athens Riviera.