The cooperation between Lamda Development and Orilina Properties (Tryfonas Natsis and Brevan Howard) is becoming closer and closer.
The Memorandum of Understanding for an investment of 70 million euros in Ellinikon, was followed yesterday by an announcement of a second deal, which concerns the joint development of an area adjacent to the Mediterranean Cosmos shopping center, in Thessaloniki.
Read also: Lamda Development: See The Ellinikon Park
Specifically, Orilina Properties together with Lamda Development acquired LIMAR S.A., a special purpose company (SPV), which owns plots with a total area 72,121 sq.m., strategically located next to the Mediterranean Cosmos shopping center.
Lamda owns 20% of the SPV while Orilina owns the remaining 80%.
The area is located at the 12th km of the National Road Thessaloniki – Halkidiki, in the municipality of Thermi, next to the parking lot of Mediterranean Cosmos, at the northwestern edge of the area.
The newly established consortium “utilizing the power of the existing shopping center as well as the prospects of the city”, will develop a high quality building with a total area of 12,300 sq.m. mixed use, on the main plot that covers 61,415 sq.m.,
The rest of the area will be developed exclusively by Orilina, strengthening the building stock of the wider area.
The total investment is expected to reach 25m euros, according to Orilina Properties.
Lamda Malls
Lamda Development management has stated that it aims to secede from the shopping center sector, creating a separate entity that will be listed on the Stock Exchange in 2023.
According to Mr. Athanassiou, before being listed on the ATHEX, the entry of a strategic investor is being examined, while its future goal is to transform it into a Real Estate Investment Company.
American firm Varde Partners had invested in the company and Lamda has bought its stake (31.7%) for 109 million euros.
Apart from the three existing Lamda shopping centers (The Mall Athens, Golden Hall, Mediterranean Cosmos), which already in the last quarter had revenues better than those of 2019, both commercial developments of Ellinikon, as well as other properties, will probably join Lamda Malls.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Airbnb Greece – Initial CoS Ruling Deems Tax Circular Unlawful
The case reached the Council of State following annulment applications filed by the Panhellenic Federation of Property Owners (POMIDA)
Mitsotakis Unveils €1 Billion Plan for Housing, Pensioners, Public investments
Greek Prime Minister Kyriakos Mitsotakis has announced a new set of economic support measures, worth 1 billion euros, aiming to provide financial relief to citizens.
Alter Ego Ventures Invests in Pioneering Gaming Company ‘Couch Heroes’
Alter Ego Ventures' participation in the share capital of Couch Heroes marks yet another investment by the Alter Ego Media Group in innovative companies with a focus on technology.
Corruption Still Plagues Greece’s Driving Tests
While traffic accidents continue to claim lives on Greek roads daily, irregularities and under-the-table dealings in the training and testing of new drivers remain disturbingly widespread
Pope Francis Died of Stroke and Heart Failure Vatican Confirms
As news of the official cause of death spread, tributes poured in from across the globe. The 1.4 billion-member Catholic Church is united in grief, remembering a pope who championed inclusion, justice, and compassion
Increase in Both Museum Visits, Revenues for 2024
As expected, the Acropolis was the top archeological site in the country, followed by Sounion, Mycenae, the ancient theater of Epidaurus, and Vergina in northern Greece
Where Greece’s Tourists Come From: A Look at 2025’s Top Visitor Markets
The United Kingdom continues to hold the top spot as the largest source of incoming tourism, with 5.6 million seats booked for Greece this summer — up 2.2% from last year. This accounts for 20% of all international air traffic to Greece
Pope Francis: A Pontiff Who Reshaped the Papacy and Sparked a Global Conversation
His first words from the balcony of St. Peter’s Basilica—“Brothers and sisters, good evening”—set the tone for a pontificate that would challenge norms, favor mercy over dogma, and bring the papacy closer to the people.
When Blue Skies was Unmasked as ND’s Political ‘Slush Fund’
The fact that so many top New Democracy (ND) party cadres were paid by the firm Blue Skies, owned by Thomas Varvitsiotis and Yiannis Olympios, without ever citing this publicly, raises very serious moral issues, regardless of the legality
Greek Women’s Water Polo Team Top in the World after 13-9 Win Over Hungary
The Greek team had previously defeated another tournament favorite, the Netherlands, to reach the final.
![Πλημμύρες: Σημειώθηκαν σε επίπεδα ρεκόρ στην Ευρώπη το 2024 [γράφημα]](https://www.ot.gr/wp-content/uploads/2025/04/FLOOD_HUNGRY-90x90.jpg)
![Ξενοδοχεία: Μεγάλο το ενδιαφέρον για επενδύσεις στην Ελλάδα – Η θέση της Αθήνας [γραφήματα]](https://www.ot.gr/wp-content/uploads/2025/03/Athens-hotels-90x90.jpg)
