The head of Lamda Development on Thursday said pre-sale contracts for upscale residences at the Helleniko site in coastal southeast Athens have already reached a total of 700 million euros.
The ATHEX-listed property developer’s CEO, Odysseas Athanasiou, speaking at an investment event, referred to an “unparalleled” success in terms of pre-sales, while putting the target by the end of the year at 1.2 billion euros.
The landmark privatization was finalized last month with the signing of a concession agreement between a Lamda subsidiary and the Greek state, witnessing shares for the approximately 700 hectares of prime real estate transferred to the latter, and more than 600 million euros in cash and a letter of guarantee funneled into state coffers.
The Metropolitan Helleniko-Aghios Kosmas site, as the tract of land is officially called, includes the site where the former Athens airport operated in the second half of the 20th century, along with auxiliary facilities, disused military airbases, hangars, runways and even outdoor facilities for the 2004 Olympic Games.
The seminar was organized by Goldman Sachs and Greece’s four systemic banks.
In terms of a timetable, Athanasiou referred to commencement in the construction of infrastructure in the first half of 2022, followed by buildings in the second half. Additionally, he put expressions of interest by retailers in the foreseen Vouliagmenis Mall at 60 percent of projected capacity, “even before the official presentation of the plans”.
Finally, he said Lamda Development’s net asset value (NAV) by 2025 will reach three billion euros, essentially tripling within a five-year period.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Bank of Greece Governor Says EU will Retaliate to Trump’s Tarrifs
The Bank of Greece Governor defended the independence of central banks amid criticism from U.S. President-elect Donald Trump, who had publicly commented on Federal Reserve Chair Jerome Powel
September in Greece Winning Tourists Over from US, Germany
Tourists continue to visit Greece off-season into Sept. with the number of inbound travelers up by 6.6% and a 7.9% rise in travel receipts.
Bitcoin Surges Toward $100K Amid Pro-Crypto Optimism in US
According to Reuters, the cryptocurrency surged to an all-time high, briefly exceeding $96,898 during Asian trading hours.
Greek Driver Violations at a Touch of a Button
Traffic offences recorded in the last five years by Greece’s “Driver Behavior Control System” are now available on Gov.gr Wallet
Milan Tops List of Most Expensive Streets, Athens’ Ermou Holds Steady at 15th Place
In Athens, following Ermou Street is the southern suburb of Glyfada and Tsimiski Street in Thessaloniki.
New Gov.gr Service Enables Secure Reporting of Minor-Related Delinquency
It should also be noted that via the recently introduced initiative ‘Safe Youth’ application citizens have access to specially tailored informative material regarding the safety of children and adolescents
Thousands Strike in Athens Over Soaring Living Costs and Stagnant Wages
Inflation, particularly in food prices, has been crushing Greek households
Greece Overhauls Property Valuation System
Greece plans to launch a revamped property value registry in 2025 and overhaul the way objective values are calculated to enhance tax revenue and improve transparency.
Greece’s New Tax Bill Foresees Tax Relief Beyond Big Business
Tax relief measures in Greece are proposed for freelancers, property owners and farmers, along with 'big business'
Unions Call Nationwide Industrial Strike for Wed.
Mass transits are usually affected, especially in the greater Athens-Piraeus area, although bus and metro services are curtailed but not fully halted
![Τουρισμός: Πάνω από 5 εκατ. αφίξεις σε καταλύματα τον Σεπτέμβριο [γραφήματα]](https://www.ot.gr/wp-content/uploads/2021/10/katalymata-90x90.jpg)
