Greece’s largest investment is becoming a reality.
Athens, June 16th, 2021 – Ellinikon- The vision of the largest urban regeneration project in Europe is becoming a reality!
On a historic day for Lamda Development SA, the BoD of the company moved ahead with the purchase of Hellinikon SA shares, as today:
- the Council of State issued all pending rulings, and
- all issues with HRADF related to the condition precedent for the award of the casino license have been settled.
On June 25th, the first installment of the Share Acquisition Price, €300 million, will be paid and the €347 million Deferred Payment Bond will be delivered to HRADF.
A new era for Greece
This is a historic time that coincides with the reopening of the Greek economy and the country’s recovery effort. Lamda Development will play a leading role in this effort.
Ellinikon is a project that will give the Greek economy a growth boost, re-position Greece on the global investment and tourism map, incorporate cutting-edge technologies, and modern design and architecture principles.
Our goal is the creation of a modern, digital, and environmentally friendly city, a model of sustainable development, reflecting Greece’s cultural heritage. A new venue for entertainment, relaxation, walking, and exercise for everyone.
A new way of communication
Wishing to communicate the progress of the project on an ongoing basis, Lamda Development will initiate a series of webinars. The first two webinars will be held during the first two weeks of July and will focus on the architectural designs for the first residential tower in Greece and the plans for the redevelopment of the coastal front.
“For 7 years, we believed that our vision would become a reality. Today, we begin implementation of everything we planned for, with so much patience, faith, and, most importantly, passion throughout this time.
We have already completed the architectural designs for the first phase, and we will start presenting them very soon, while we have also secured financing for all these projects. We have brilliant partnerships participating into the project, from Greece and abroad.
We want to become ambassadors for our country’s sustainable development, by creating a ‘smart green city’.
We will constantly try to understand society’s concerns, with the aim of improving citizens’ quality of life and everyday lives. With Ellinikon, we will introduce a model project on multiple levels – a project that enhances our country’s global image” stated the CEO of Lamda Development Mr. 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