Athens Riviera: The new hot spot of retail
The Athenian Riviera “mesmerises” retail giants, luxury brands, fashion retailers, supermarkets and sportswear chains.
- 23/07/2025, 16:36
With all eyes on the major ongoing projects and the hundreds of millions of euros of investments that have been launched along the entire 70-kilometer coastline from Piraeus to Cape Sounio, the Athenian Riviera is increasingly attracting the interest of domestic and international investors. The explosion of real estate and investments in general, the increase in tourism, as well as the mega project of The Ellinikon, where the construction of three large shopping centers (The Ellinikon Mall, Riviera Galleria and Retail Park) is underway, are ushering in a new era for the coastline of the capital and yet another sector, that of retail, putting the southern suburbs on its radar. It is indicative that the management teams of commercial enterprises, both domestic and foreign, seem to give a “vote of confidence” in the prospects of the southern suburbs in a period, as they report, of exceptional challenges that require, among other things, adaptability, flexibility and a correct reading of the environment.
Targeting the “South”
In this context, smaller and larger “players” are already rushing to take a good position in the new “shopfront” of retail that is being set up on the Athenian Riviera, hoping to strengthen their share of the “golden pie”, as they characterize it, of the coastline, while current estimates that the series of investments will continue – from retail giants, luxury brands, fashion retailers, supermarkets and sportswear chains – succeed one another. “Greece is a small market, but the fact that in recent years it has recorded a significant increase in tourism, and indeed almost throughout the year, has now made it the target of international chains. The upcoming development of The Ellinikon complex will change the economic and business geography of the area and will attract many investments in the retail sector, mainly within The Ellinikon complex and secondarily in the regional markets. In a latter phase, however, the creation of new retail markets is also expected, most likely further south of Vouliagmeni”, Makis Savvidis, vice president of the Athens Trade Association, representative of Greece in the European Federation of Electronic Commerce (Ecommerce Europe) and vice president of the Greek eCommerce Association (GR.EC.A.), tells White Paper.
The Ellinikon Project
With commercial leases in two of the three retail and entertainment destinations under development in The Ellinikon, for which Heads of Terms (HOT) have been agreed with tenants amounting to 63% of the total gross leasable area (GLA) in The Ellinikon Mall and 76% of the GLA in Riviera Galleria, and indeed at higher prices compared to the operating shopping centers of LAMDA Development, the increased business interest is confirmed. Trade Estates of the Fourlis group is designing the Retail Park of approximately 30,000 sq. m., which will include four large complexes with commercial spaces, one of which will be occupied by the IKEA Elliniko in an area of 10,000-12,000 sq. m. and will be the flagship of the park, while it will also host Leroy Merlin and Intersport stores. The Ellinikon Mall, with an area of 100,000 sq. m., will host 350 shops and restaurants and, once operational, will be the largest shopping mall in Greece and one of the largest in Southern Europe, while the Riviera Galleria with a total area of 23,000 sq. m., for the construction of which METKA (Metlen Group) has been selected and will bear the signature of the award-winning Japanese architect Kengo Kuma, is the seaside shopping center that will host international luxury brands and premium boutiques.
Among the companies that will “set up camp” in the shopping centers that will be developed in The Ellninikon, according to information, is Dell -through its official partner and distributor of its products in Greece, Oktabit- establishing a third Dell Exclusive Store in our country, this time in The Ellinikon. Public Group will also be located “inside” The Ellinikon, as according to the group’s management, an agreement has been reached for the creation of a three-story Public store in an area of almost 3,000 sq. m., which will include the entire range of products of the chain. The Spanish fashion giant Inditex (Zara, Zara Home, Massimo Dutti, Pull & Bear, Stradivarius, Oysho and Bershka) is also moving in the same direction, through the group’s Greek subsidiary, ITX Hellas, with the preliminary lease agreement for the group’s chain stores in The Ellinikon having been signed. In fact, one of the group’s latest and biggest commercial “hits” in our country was the opening of the largest Zara store of 5,000 sq. m. in the emblematic Piraeus Tower. This is one of the brand’s largest sales points across Europe, confirming the strong interest in the Southern Suburbs. It seems that Attica Department Stores will also be present in The Ellinikon, with the company’s main share holder, Ideal Holdings, having confirmed the existence of preliminary lease agreements for spaces in LAMDA Development’s new shopping centers. Among other things, the shopping centers in The Ellinikon will host luxury brands from the clothing, electrical-electronic goods, toys and super markets sectors.
Regional retail is also being strengthened
The Polish clothing and home goods chain, Sinsay, made a strong start this year, with its development plan including the opening of eight new stores in the Greek market for the beginning of the year alone, two of which are located in the southern suburbs. The Polish affordable fashion chain, which has completed two years of presence in the domestic market, is aiming for an even greater share in an attempt to further strengthen its position in the retail sector. More specifically, LPP Greece, the Greek subsidiary of the Polish group, opened a new store in Daphne (on Vouliagmenis Avenue), while a month ago the new store in Alimos was opened. It should be noted that the course of the Sinsay brand in 2025 is expected to determine the arrival of the other brands of the LPP group, such as the Reserved chain.
Grand Masoutis
Masoutis opened its first large store, Grand Masoutis, in Attica, specifically in the southern suburbs (on Vouliagmeni Avenue), a year ago. The supermarketchain opened a state-of-the-art point of sale in Glyfada, which covers an area of 2,000 sq. m. “Grand Masoutis” is the company’s store model that offers more services and product codes, while to date there are 14 other similar stores operating throughout Greece. However, this is the first time that such a store has been opened in the capital, with the second Grand Masoutis opening soon in Treis Gefyres in Athens. In the southern suburbs, according to reliable information, the next step in strengthening Grand Masoutis’ presence will be in the Nea Smyrni area. The northern Greek supermarket chain aims to further strengthen its footprint in the Attica market, with Masoutis’ organic growth plan for last year including, in addition to new stores in Attica, investments of around 25 million euros for store renovations. It should be noted that in the southern suburbs, D. Masoutis S.A. has stores in Piraeus, Palaio Faliro, Argyroupoli, Kallithea and Agios Dimitrios.
Holland & Barrett
The stores of the British health and wellness chain Holland & Barrett, which the Fourlis group has brought to our country, are expanding dynamically. It is no coincidence that the first store opened in Glyfada with the group “betting” on the southern suburbs market. It is noted that the collaboration between the Fourlis Group and Holland & Barrett began in 2022, while in early 2023 the first six physical stores in Greece were created, as well as the online store offering nationwide coverage. The company, founded in 1870, is the most famous chain in the vitamins & supplements sector in England and one of the largest companies in Europe in the health and wellness sector, with a network that reaches 1,600 stores in 24 countries.
JD / Cosmos Sport
The British sportswear retailer, JD Sports, is increasing its footprint in the Greek market, both through the homonymous network and through the acquired Cosmos Sport, expressing support for the Attica coastline. In addition to the store that it has in the emblematic Piraeus tower, it has presence in Glyfada and in the central market of Kallithea. It should be noted that the JD group has acquired the majority of Cosmos Sport shares from the Tsiknakis family (which retains management), as well as the percentage held by EOS Capital Partners of Apostolos Tamvakakis. In fact, Cosmos Sports and its management team have set a goal of further developing the network by adding new stores, as well as doubling the financial figures by 2028. JD Sports operates over 3,400 stores in 38 markets around the world, while in Greece it opened its first store in the fall of 2022 at Smart Park and the second on Metaxa Avenue in Glyfada. Also, the Cosmos Sport chain opened a new store in Glyfada, with a new sport-driven strategy, reducing its “footprint” in street fashion and athleisure, categories that are being developed through the JD chain, which managed to quickly acquire a significant share among younger GenZ and GenA consumers.
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.