The most coveted stretch of sand in Attica is heading for a new chapter. Vouliagmeni Beach, the most popular organized seaside destination on the Athens Riviera, is up for long-term lease – and seven major investment groups are officially in the running to take over one of the most high-profile coastal assets in Greece.
ETAD S.A., the real estate arm of Greece’s Superfund, has received expressions of interest from powerful players already active along the Riviera, as well as new contenders with eyes on this golden opportunity. From real estate and tourism to hospitality and finance, everyone wants a piece of this beachfront prize.
Why Everyone Wants Vouliagmeni Beach
-
Total area: 72,767 sq.m.
-
Seafront: 638.5 meters
-
Visitors in 2024: 420,000
-
Daily capacity: 8,000 people
-
Lease duration: 20 years + option for 10 more
-
Permitted construction: 2,000 sq.m. (no further building allowed)
Just 25 km from downtown Athens, Vouliagmeni Beach is the last available premium beachfront property for organized use within the Municipality of Vari-Voula-Vouliagmeni. It attracts thousands of visitors year-round and holds prime status on the rapidly developing Athens coastline.
With billions already being poured into the Riviera – from the Ellinikon megaproject to the new Alimos Marina – this is more than a real estate bid. It’s a claim on the future of luxury leisure in Greece.
Who’s Who: The 7 Contenders
-
AIR CANTEEN S.A.
🔹 Linked to Vlassis Georgatos (Grigoris Group)
🔹 Food & beverage experts aiming to expand into premium beach hospitality. -
ATHENS BEACH CLUB S.A.
🔹 Joint venture of Konstantakopoulos, Prokopiou & Kokkalis
🔹 Already managing the neighboring B’ Voula Beach – now eyeing a bigger footprint. -
MONTEKAVO REAL ESTATE S.A.
🔹 Backed by the Restis Group
🔹 Quiet but influential player in high-end coastal development. -
THE MARGI S.A.
🔹 Owners of the iconic luxury hotel in Vouliagmeni
🔹 Deep roots in the area, aiming to expand their hospitality legacy. -
EVERGOOD S.A. – GEFSINOUS S.A.
🔹 JV of CVC Capital Partners & Manolis Vavourakis
🔹 Combines financial firepower and restaurant sector know-how. -
REDS S.A. – AIGAIOU WAREHOUSES S.A.
🔹 Ellaktor & Melissanidis Groups
🔹 Fresh off their win at Alimos Marina, they’re now going after Vouliagmeni Beach. -
FAIS HOLDINGS S.A.
🔹 Sami & Loucie Fais family
🔹 Known for strategic investments in lifestyle and hospitality.
The Investment Scope
Initial estimates suggest that €10–12 million will be required to upgrade the beach’s infrastructure, including landscaping and modernizing existing buildings, such as the once-iconic “Okeanis” restaurant. New construction is not permitted, but that hasn’t dampened investor appetite.
How the Tender Works
The leasing process is divided into two phases:
-
Phase A – Expression of Interest (completed)
-
Phase B – Binding Offers, with shortlisted bidders to proceed under specific tender terms.
ETAD’s advisory team includes:
-
KPMG (financial advisor)
-
Karatzas & Partners (legal advisor)
-
Hill International (technical advisor)
Athens Riviera Calling
Vouliagmeni Beach isn’t just real estate. It’s a symbol of the Athens Riviera’s rebirth – a region redefining coastal luxury, urban escape, and international appeal.
Whoever wins this deal will gain more than land. They’ll gain front-row access to one of the most strategic leisure zones in the Mediterranean.
