The Athens Riviera has been undergoing a phase of radical transformation in recent years. From Faliro to Sounio, the coastal front now resembles a vast construction site. Beyond the iconic “The Ellinikon” mega-project, dozens of new residential developments are underway, aiming to upgrade the area’s residential and investment profile. Luxury complexes, serviced apartments, and high-specification architectural projects are shaping a new image for Athens’ southern suburbs.
The “Athens Riviera Triton” Next to Ellinikon
Among the standout projects is the large residential complex “Athens Riviera Triton,” being developed almost adjacent to the grounds of the former Ellinikon airport, yet outside the boundaries of “The Ellinikon” investment. The project is being implemented by QG Investments, a company owned by Qatari investor Mohammed Al-Obaidli and Greek civil engineer Pantelis Apodiakos. This firm has established a dominant presence in the southern suburbs market over the past few years.
The “Athens Riviera Triton” is being constructed on the site that formerly housed the Kastalia Psychiatric Clinic. The complex will consist of six building volumes and will include a total of 37 ultra-luxury serviced apartments, with sizes ranging from 120 to 400 square meters. All residences will feature sea views, while the larger units will include private pools.
The project is designed as a comprehensive high-quality living complex, offering owners a range of luxury amenities. Specifically, approximately 2,000 square meters of communal wellness and recreation areas are planned, including relaxation zones, a gym, a healthy corner, a full spa, and various other services for residents.
According to the schedule, the first three buildings, housing 19 apartments, are expected to be delivered by this summer, while the remaining three, with 18 residences, will be completed by mid-2027. Sales prices are at particularly high levels, starting from €12,000 and reaching up to €20,000 per square meter.
The complex also boasts a prime location, situated directly across from the Ellinikon Casino and the Agios Kosmas Marina, further enhancing its investment value and interest from international buyers.
Falirikon: Faliro’s last “prime” property
Simultaneously, QG Investments is moving forward with a second major project on the Athens Riviera: the “Athens Riviera Falirikon,” located in Faliro, right on the coastal avenue. This is also a serviced apartment complex, named after the historic “Falirikon” hotel that once stood in the area.
The plot originally belonged to the Bank of Greece and, following a tender process, passed into the hands of an Israeli company before finally being acquired by QG Investments. The new complex will include 73 residences, ranging from 120 to 400 square meters, offering similar high-standard services. Completion is set for late 2027, with strong interest already being recorded from prospective buyers.
The project’s name refers to the historic “Falirikon” hotel, built in 1922 and demolished in the 1960s to make way for a larger hotel complex—a plan that was never realized. At that time, the Falirikon was one of two ultra-luxury hotels in Faliro, comparable in prestige to the “Grande Bretagne.” The second was the famous “Aktaion,” one of the most emblematic buildings of the era, on the site of which the Metropolitan Hospital stands today.
QG Investments’ presence in the Southern Suburbs
QG Investments has already left its mark on the southern suburbs market, having completed several residential projects such as “La Torre de la Nostalgia,” “Chaleur des Petales,” “Mantaray,” and “Domes of Eternity.” The company’s new projects further bolster the investment wave reshaping the Athens Riviera, turning the capital’s coastal front into one of the most dynamic residential and investment destinations in the Mediterranean.
