The value of $3.88 trillion in 2022 the global real estate market is expected to grow to $6.13 trillion. to 2030, representing a return on capital of 5.2% over the period 2023-2030.
Most of the projects are at the stage of implementation in the USA, Canada, Europe, Asia and North Africa. Among them are two Greek Lamda Development's Hellenikos in the Athenian Riviera and Hamptons Greece developed by the Iranian-Canadian businessman Alex Haditaghi on a property in Kavala that he acquired through a tender from the HRADF.
The Ellinikon
It is referred to as Europe's largest urban regeneration project. The project aims to become a major destination for tourism, business and residential living, offering what is essentially a smart city within another city.
The 6 million square meters of Ellinikon will offer branded, beachfront residences and parks, as well as hotels, shopping centers and commercial offices. Amenities include a private park, marina, schools of all levels of education, sports and health facilities and cultural venues. The land on which the former Ellinikon Athens International Airport was located is now expected to attract over 1 million people.
The master plan of the $8 billion project was designed by Foster + Partners, considered one of the best architectural firms in the world. Led by LAMDA Development, the project places a strong emphasis on sustainability, tourism and accessibility, securing certifications such as LEED and SITES in the process.
Hamptons Greece
The article highlights the ease of access since it is only 25 and 70 minutes away respectively from two international airports "nestled" in the Aegean Sea and with almost a kilometer of golden sand. In addition, it is only a four-hour drive from Istanbul and only seventy minutes from the second largest city in Greece and the country of Bulgaria. Canadian businessman and financier Alex Haditaghi's Hamptons Greece represents a $650 million project in the country's booming real estate market.
Covering 149,000 acres, the development includes a 5-star hotel and 288 luxury villas, up to six bedrooms many of which have their own private pool.
Hudson Yards
Hudson Yards, developed by Related Companies and Oxford Properties Group is located on the New West Side of Manhattan, and includes two office towers (10 and 30 Hudson Yards), a shopping mall, four high-end residential and office buildings, a art center and Thomas Heatherwick's intricate spiral staircase known as the "Vessel". The project also includes 14 acres of public spaces, more than 100 shops and restaurants, as well as the Equinox Hotel. Companies such as L'Oreal, Boston Consulting Group, VaynerMedia, SAP, Warner Media, Wells Fargo, Equinox, BlackRock, Accenture, Amazon, Ernst & Young and Pfizer have already leased office space at Hudson Yards.
Union Park
Oxford Properties' Union Park is located in downtown Toronto and aspires to be the city's largest mixed-use development. Costing an estimated $3.5 billion, Union Park will offer over 800 rental residential units, two towers dedicated to office space, an integrated daycare, 20,000 square meters of retail and a covered courtyard known as the "winter garden."
With a strong focus on sustainability, the project is also designed to meet all the standards required to achieve Leed Platinum certification.
Al Habtoor
In the heart of Al Habtoor City, Al Habtoor Tower is an 82-storey high-rise building featuring over 1,600 luxury apartments and 22 penthouses of up to 3 three-bedrooms with stunning city views and unparalleled amenities. As with most projects in Dubai, the tower places great emphasis on modern architecture and design, as well as high-tech automation.
The tower is intended to be a vertical city where its residents have access to everything they need on a daily basis. The project is being developed by Al Habtoor Group.
AMAALA
Located along the Red Sea coast in northwestern Saudi Arabia, AMAALA is part of the country's Vision 2030 plans. The megaproject is inspired by the Red Sea and aims to become the largest family wellness destination in the region, using the 4,155 square kilometers to offer "unique and rejuvenating guest experiences".
AMAALA will offer over 3,000 hotel rooms and 800 residences, as well as leisure facilities, all designed around the Red Sea. The project is being developed by Red Sea Global.
Diriyah Gate Project
This is another giga-project right in the heart of Saudi Arabia and is focused on attracting tourists and residents from all corners of the world. Adjacent to At-Turaif World Heritage Site, this project features historical remnants of old palaces, mosques and other buildings, while also offering all the amenities of modern life and luxury.
Intended to become a cultural hub, this project will offer everything from world-class restaurants to unique museums. It includes approximately 38 hotels and resorts from name-brand chains such as the Ritz-Carlton and Park Hyatt, and 400 luxury stores.
The project is being implemented by the Diriyah Gate Development Authority as part of Vision 2030, which means the project has the full support of the country's government.
Requiring over $63 billion to build, the Diriyah Gate Project has already become one of the largest and most complex developments in the world, but also one of the most promising.
MilanoSesto
MilanoSesto is being implemented by Hines one of the largest investment companies worldwide and Prelios is located in the Sesto San Giovanni municipality of Milan and is an urban regeneration project covering an area of more than 370 hectares. MilanoSesto does not focus on luxurious living, but on creating a balance in which different groups of people can coexist. The design has been undertaken here as well by the architectural office of Foster + Partners
Expected to be completed in 2025, construction on the first stage of the project began in 2021. This part of the project will not offer affordable rentals aimed at students, families and seniors, but co-working spaces, daycares, healthcare and space for research centers , a new train station, shopping areas, sports facilities and over 45 hectares of greenery.
Louvre Abu Dhabi Residences
Located right next to the Louvre Abu Dhabi art museum, Aldar Properties' ultra-luxury residential complex aims to bring luxury lifestyle and the arts closer than ever. The project is the result of the growing demand for premium residences in the area, especially among those seeking the best cultural, artistic and architectural experiences.
In addition to the 400 apartments of up to three bedrooms, Louvre Abu Dhabi Residences will also feature five penthouses, the luxury lounge "La Salon Detente", a private theater with a capacity of 12 people, a well-equipped gym with saunas, a yoga and meditation room, indoor children's playroom, swimming pools, and more.
New Cairo Capital
New Cairo Capital represents one of the largest real estate projects of the last decade. Also known as The New Administrative Capital, with more than 725 square kilometers of which 490 are currently available for development, New Cairo Capital is expected to create over 1.75 million permanent jobs and attract over 6, 5 million inhabitants. The smart city is expected to cost around $59 billion. Companies such as Siemens, China State Construction Engineering Corporation, Huawei, Mastercard, Nokia, FourSeasons and Orange have already shown interest or committed to participate in the development of the new city .
