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Where Athens’ old airport once stood, a futuristic city is rapidly taking shape. Modern residential complexes, green spaces and cutting-edge technology are at the heart of the massive Ellinikon development, which is set to include around 9,000 homes, shopping centers, offices, hotels and the giant Riviera Tower skyscraper, according to the Daily Mail.

Until recently, Athens was associated primarily with the Acropolis and the Parthenon. Now, however, the Greek capital is entering an entirely new era.

And the transformation could hardly come at a more opportune time.

For the past decade, Dubai, Abu Dhabi and Doha have attracted British expats dreaming of a luxurious lifestyle that could often be enjoyed at a lower cost than in the UK. But in recent months, Dubai’s appeal has been overshadowed by the consequences of the war involving Israel, the United States and Iran.

As a result, Britons tired of high prices and the gray climate at home may increasingly be looking for a new place to live. And Athens is unexpectedly emerging as one of the most promising options.

The Ellinikon development is being built on the site of Athens’ former international airport and is already helping transform the city into a potential “new Dubai.” Thanks to its location, residents will be able to enjoy panoramic sea views and sunsets over the Athenian Riviera.

According to the original plans, the development will feature modern residential neighborhoods, shopping districts, business centers, entertainment spaces and leisure areas. The first phase is expected to be completed in 2027–2028.

One of the main attractions will be Riviera Galleria, a new premium shopping and dining destination featuring leading international and Greek brands.

The Ellinikon Mall, meanwhile, will offer around 340 stores and 100,000 square meters of retail space. Its concept is also built around the principle of sustainability.

But it is not only the prospect of turning Athens into a more glamorous alternative to Dubai that is attracting foreigners. An increasing number of Britons are considering Greece because of its tax breaks and other financial advantages.

Federica Grazi, founder of Mitos Relocation, a company that helps Britons — particularly retirees — move abroad, says Greece offers attractive tax conditions for foreigners.

“New workers — both traditional employees and digital nomads — receive a 50% reduction in income tax. Pensioners pay a flat tax of 7% on all income from abroad,” she said.

According to Grazi, although Greece’s standard tax rates are relatively high, many Britons can benefit from highly favorable arrangements after moving there.

As for the cost of living, prices in Greece have risen in recent years as the economy has recovered from its crisis. However, Grazi notes that the starting point was relatively low, meaning Greece remains comparatively affordable.

According to Numbeo estimates, housing rents there are around 60% lower than in the UK.

Greece also offers several residency options for digital nomads, retirees and participants in the Golden Visa program, one of the few remaining schemes linked to real estate investment.

Another advantage is the relatively high level of English proficiency compared with other Southern European countries. Meanwhile, Greece’s cultural scene remains one of its biggest draws, from open-air summer cinemas and concerts in ancient Greek theaters to its renowned restaurant and bar scene.

For families, the large number of international schools is another advantage.

Athens has long attracted tourists with its historic landmarks, but the city is now also seeking recognition as one of the most comfortable destinations in which to live.

One study placed Athens among the five happiest tourist destinations. The city enjoys around 2,773 hours of sunshine a year, while historic and cultural attractions are accessible virtually everywhere you go.

Athens was also named the most walkable destination in the study: major landmarks, including the Acropolis, the Temple of Olympian Zeus and the Panathenaic Stadium, can all be reached on foot.

The food scene is thriving as well. The city is known for its cafés and restaurants, with almost 10% of establishments offering healthy menu options.

Another argument for starting a new life in Athens is Neos Kosmos. Once considered primarily a working-class neighborhood, the area has been transformed by an influx of people from the creative industries. Independent shops, new restaurants, contemporary exhibition spaces and a theater have all appeared.

And while Dubai continues to be associated with skyscrapers and luxury, Athens is trying to offer its own vision of future living — combining the sea, sunshine, history, modern architecture and tax incentives.

It seems the ancient Greek capital really is ready to say “Kalimera!” to Dubai — and compete for the title of the new magnet for wealthy expats.

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