TIME100: Lamda Development Among Most Influential Companies

ATHEX-listed Lamda Development has been named as one of the 100 most influential companies in the world by Time Magazine (TIME100)  for 2024, the only Greece-based company on the list.

Lamda, a major property developer and mall operator, is the concessionaire building and exploiting Greece’s biggest privatization, now called The Ellinikon. The latter is one of Europe’s most prominent property development and urban regeneration projects, located where the old Athens airport and other facilities, such as military based used to be hosted along Athens’ pricy southeast coast – what’s being billed as the “Athenian Riviera”.

According to Time, “Lamda Development’s $8 billion Ellinikon, now under construction about 20 minutes from the Acropolis in Athens, is the largest urban reclamation project in Europe. The project, being built from scratch on Mediterranean coastline that used to be an international airport and 2004 Olympics site, will feature a 1-km-long public beach and one of the largest coastal parks in the world, nearly doubling the amount of green space per Athens resident. It will have thousands of luxury apartments, shopping, hotels, offices, entertainment, a university, and new infrastructure including electric vehicle stations and rainwater capture. Lamda is privately financing the development, which is expected to create thousands of jobs, attract tourists, and contribute 2.4% of Greece’s GDP in an economy that Greek Prime Minister Kyriakos Mitsotakis this year told TIME he’s focused on boosting…It’s a project that is putting Greece on the map for the right reason.” The latter quote was attributed by the US-based media group to Lamda CEO Odisseas Athanasiou.

The TIME100 Most Influential Companies recognizes the 100 top companies globally in all sectors, selecting them on the basis of innovation, leadership, and their contribution to society.