Lamda Development S.A., through its subsidiary ELLINIKON MAE. (“LAMDA”), PRODEA Investments (“PRODEA”) and Costeas-Geitonas School (“CGS”) announced the signing of a Memorandum of Understanding (MoU) for the establishment of a modern primary and secondary education organization at The Ellinikon (“CGS Ellinikon”).
This partnership emerged in the context of a tender process carried out by LAMDA for the development of a school at The Ellinikon. The Memorandum of Understanding provides for the long-term lease of a plot of land to PRODEA, which will develop and lease the school building to CGS. The final binding agreement between the parties is expected to be finalized by the end of the year.
CGS Ellinikon will be an educational and architectural landmark, capitalizing on the history, values and expertise of CGS, and enriching educational programmes by offering a choice between national and international certified curricula and Greek or English as instruction language.
The signing of the Memorandum of Understanding is proof that The Ellinikon attracts best-in-class enterprises, and is part of LAMDA Development’s strategy for creating a world-class urban ecosystem that provides high-quality education services.
At the same time, PRODEA, capitalizes on its experience and expertise in the real estate sector, and is implementing flagship investments through strategic cooperation with top organizations in their respective sector, which will have a long-term positive impact on the wider society they are part of. This is PRODEA’s first participation in the “new Ellinikon era.”
CGS’ CEO Christos Geitonas stated that “the school of the future is becoming a reality, not only because its architectural design will be in complete harmony with its educational philosophy, but also because a school in the heart of The Ellinikon will create synergies on a cultural, athletic and social level that are unprecedented in Greece.”
PRODEA’s CEO Aristotelis Karytinos noted that “we are launching our presence in the great Ellinikon project with an emblematic and highly symbolic project: the development of a school of innovative design, reflecting PRODEA’s growth plan. This is an investment in knowledge and the future, led by sustainability, in the context of the overall strategy of PRODEA Investments.”
LAMDA Development’s CEO Odisseas Athanasiou stressed that “it is a great pleasure to welcome CGS Ellinikon to The Ellinikon. A school of the future that will be created in the city of the future.”
CGS Ellinikon is expected to welcome its first students in September 2026.
Established in 1973, CGS has a student population of 1,900 and 600 employees in its 67,000 m2 campus in Pallini, offering International Baccalaureate (IB) programmes for pupils aged 3 to 18, in combination with Greece’s national curriculum. CGS is distinguished for its educational innovation, openness, and extensive network of international partnerships with prominent academic organizations.
PRODEA Investments is the leading real estate investment company in Greece, listed on the Athens Stock Exchange, with total assets exceeding €2,8bn. Its real estate portfolio consists of more than 370 commercial properties, while its ongoing or under review projects exceed €750m., with 81% of which focusing on sustainable buildings. The company boasts a high- quality, high-yielding, diversified portfolio driven by high occupancy levels, long-term leases and strong tenant base.
Lamda Development, listed on the main market of the Athens Exchange, is a holding company specialising in the development, investment, and management of real estate assets. It is a leader in the sector of large shopping and leisure centres in Greece, with successful diversification in the office space and the residential development sectors. Its property portfolio currently includes three shopping and leisure centres (The Mall Athens and Golden Hall in Athens, and Mediterranean Cosmos in Thessaloniki) with a total surface area of 157,000 sq.m. available for use, as well as office buildings, residential complexes, and Flisvos and Aghios Kosmas Marinas. Lamda Development has undertaken the complete metropolitan regeneration of the area of the former “Ellinikon” airport, which will be the largest private investment in Greece and the largest urban regeneration project in Europe. The company is a member of the Latsis Group.