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.
Source: tovima.com
Latest News
Greek Public Sector Debts Surge, Exposing Growing Arrears
Public sector debts to private entities have once again increased in Greece, reaching 3.2 billion euros in July 2024
Greece: 1 in 10 of Greece’s Poor Can’t Cover Health-Related Costs
Greece has the greatest degree of social inequality in relation to unmet health needs among 26 OECD countries.
ELSTAT: Greek Tourism and Dining Revenue Up in July 2024, Major Islands Experience Decline
Both the islands of Mykonos and Santorini saw decreases in their accommodation and food service revenues.
Greece Posts €1.37 Billion Cash Primary Surplus in First Eight Months of 2024
Specifically, from Jan. to Aug. 2024, the central government recorded a cash surplus of 1.368 billion euros, compared to a deficit of 964 million euros in the same period of 2023.
Greece to Launch 600-Mln-Euro Greenhouse Program
The greenhouse sector is already one of the most dynamic areas within the primary sector and presents a viable solution to the pressing issues caused by the climate crisis.
Greece Tops EU in Non-Performing Loans (NPLs)
The country has 3.3% compared to the Union’s 1.9% average in the first quarter of 2024, according to a study by OCTANE Management Consultants, an Athens-based business consulting and services firm.
Eurostat: Greek Inflation at 3.2% in August, Eurozone at 2.2%
The annual inflation rate for the European Union was 2.4% in August 2024, down from 2.8% in July, while a year earlier, it stood at 5.9%.
Eurobank: Green Bond Oversubscribed by 5.4 Times
This allowed Eurobank to raise 850 million euros and reduce the bond’s credit spread to 180 basis points, down from the initial indicative offer of 210 basis points.
Greece to Reissue 10-Year Bond on Wednesday
The purpose of the reissuance of these Greek government bonds is to meet investor demand while also facilitating the functioning of the secondary bond market.
Blast on Airplane in Crete Delays Departure
The explosion was likely caused by an electronic cigarette and a power bank in a handbag left by a passenger in her seat