The establishment of a special purpose company of Brook Lane Capital with Hellenic SA Lamda Development was announced with the purpose of jointly developing a mixed-use tower in Ellinikon in the area of Vouliagmeni AvenueIn the announcement of.
The value of the investment amounts to 200 million euros and in the Brook Lane joint venture will hold 70% and Elliniko SA. 30%. Within the business center (Commercial Hub) a state-of-the-art Mixed Use Tower will be developed, consisting of office spaces, a luxury hotel and residences. The project will be delivered within the first five years of the Elliniko development.
The full Lamda Development announcement is as follows:
“LAMDA DEVELOPMENT S.A. (hereinafter the “Company”), in accordance with Regulation 596/2014 / EU and the Regulation of the Athens Stock Exchange, each as in force, announces the following regarding the emblematic work of Elliniko:
In the context of the implementation of the business plan for the development of the emblematic project of Elliniko, the Company and ELLINIKO SA concluded on 27.01.2022 a Framework Agreement with a company of the BROOK LANE CAPITAL group for the development of a state-of-the-art mixed use tower (“Mixed Use Tower”), inside the Business Center (“Commercial Hub”) in the area of Vouliagmeni Avenue, the which will be completed during the first five-year implementation phase of the Hellinikon project.
This cooperation concerns the implementation of a mixed use tower (“Mixed Use Tower”) consisting of office space, luxury hotel and residences, intended to be a landmark of the whole area. Subject to the fulfillment of the conditions provided in the above Framework Agreement, the development will be done through a special purpose company, in the share capital of which a company of the BROOK LANE CAPITAL group and HELLENIC SA will participate, at a rate of 70% and 30 % respectively.
The time it will take to complete the above sects is estimated at about six months.
The design of the Mixed Use Tower has been assigned to the leading international architectural firm AEDAS, while the management of the hotel and residences will be assigned to an internationally renowned management company (hotel operator).
The total investment for the creation of the Mixed Use Tower is estimated at € 200m. “
Latest News
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
Yannis Vardinoyannis Assumes Post of Motor Oil Board President
He succeeds his father, Vardis, who passed away last week at the age of 91