Athens, July 14th, 2021 – Lamda Development S.A. announces a pivotal agreement with Piraeus Bank S.A., the first since the transfer of Hellinikon S.A. shares from the Greek state to Lamda Development. The agreement, as set out in the relevant Memorandum signed by both parties today, concerns the acquisition by Piraeus Bank S.A. of office space totaling 40,000 m2 to relocate the Bank’s head offices to the state-of-the-art Business Centre to be developed by Lamda Development at The Ellinikon, on Vouliagmenis Avenue.
The offices are being developed in a strategic location, offering a unique view of the Metropolitan Park and the coastal front, with direct access to outdoor green and recreational spaces. Lamda Development is undertaking the development of this high-quality real estate assets, whose design is driven by by the principles of sustainability, in line with international standards for the certification of “green” buildings and strategies for improving indoor conditions for the health, safety, and well-being of employees. The development will be completed within the first five-year phase, of implementation of The Ellinikon project, that is by 2025.
“We are very pleased by the agreement with Piraeus Bank for two reasons:
It marks the start of the development of the new Athens Business Park at The Ellinikon.
In this context, our goal is to create exemplary sustainable office spaces that offer employees a new and unique way of working and interacting, with easy access to the Metropolitan Park and the coastal front.
Moreover, as one of the two supporters of bank financing for The Ellinikon, Piraeus Bank is giving yet another vote of confidence in this major project for our country,” said the CEO of Lamda Development S.A., Odisseas Athanasiou.
About Lamda Development
Lamda Development, listed on the main market of the Athens Exchange, is a holding company specializing in real estate development, investment and management. The company plays a leading role in the sector of large commercial and leisure centers in Greece, with successful diversification in office and residential developments. Lamda Development’s portfolio includes three commercial and leisure centers (The Mall Athens and Golden Hall in Athens and Mediterranean Cosmos in Thessaloniki) with a total GLA of 157,000 sqm, office buildings, residential complexes and Flisvos Marina in Faliro. Lamda Development has undertaken the integrated metropolitan redevelopment of the area of the former ‘Hellinikon’ airport, which will be the largest private investment in Greece and the largest urban redevelopment project in Europe. The company is a member of the Latsis Group.
Corporate Communications Director