A new residential project called “Glyfada Seaside” will be developed in the coming months on the coastal front of Glyfada by Netherfield Development Greece, with architectural design by the acclaimed 314 Architecture Studio. The project—positioned along the Athens Riviera near the large Elliniko investment—promises contemporary design and high construction quality.
Project highlights – Developer: Netherfield Development Greece (an Egyptian‑owned investment company active in high‑end Greek residential developments). – Architect: 314 Architecture Studio. – Product mix: maisonettes, apartments and penthouses intended to “redefine luxury” on Glyfada’s shore (developer statement). – Amenities (developer statement): private pools, gym, 24‑hour security and a balance of privacy and vibrancy within a short walk of Glyfada beach, marinas, shops and parks.
Location and plot characteristics – Address: Poseidonos Avenue 45, Glyfada—adjacent to a property that formerly housed the local IKA office and today hosts a credit insurance company. – Plot origin: Formed by the merger of two adjacent plots; cadastral area listed as 2,314 sq.m., while other records give 2,344.15 sq.m. – Frontages: approximately 54.35 m to the southwest on Poseidonos Avenue and 40.34 m to the northwest on Iatrou Liouga (Liouga Street). – Context: Close to Glyfada Golf and about 200 m from the Church of Agios Konstantinos, in a mainly residential area described as having moderate building density and good street layout. – Zoning/buildability: Inside the approved city plan; buildability coefficient (FAR) 0.80 and coverage ratio 1/3. The plot is currently vacant (a 1960s building was demolished previously) and is surrounded by a reinforced concrete wall with iron railings on the street facades.
Legal and auction history – The plot and an adjacent building formerly belonged to the company “Marios Papathanos S.A.,” which had extensive construction and property activities in Glyfada for more than two decades. – The property entered the electronic auction platform after enforcement proceedings and has a lengthy history of attempted auctions: – Seizure recorded from 2019 in favor of Piraeus Bank. – First auction attempt (2020) set an initial price of €4.08 million; after an appeal at the Single‑Member Court of First Instance of Athens the starting price was raised to €8.312 million, but the auction failed. – In 2022 the creditor Intrum relaunched the auction with a starting price of €5,798,000. The owner filed an appeal requesting price correction; on 31 October 2022 the court—considering a second valuation report—accepted the appeal and ordered the starting price increased to €12,890,000, citing the plot’s location and improving market conditions following the pandemic. – The lot went to auction on 11 November 2022 with the higher starting price but attracted no bidders. A further auction on 25 January 2023 opened at €10,312,000 and again failed due to a lack of bidders. – The plot was subsequently acquired by Netherfield Development Greece (purchase price not disclosed) for the purpose of developing “Glyfada Seaside,” giving the long‑vacant site a new planned use.
Context “Glyfada Seaside” will join numerous residential projects under development along the Athens Riviera, an area of rising interest following large investments such as the Elliniko redevelopment. The developer emphasizes unobstructed sea views, modern amenities and proximity to local leisure and retail infrastructure as selling points for the project’s target buyers.
