New investors have purchased a stake in Lamda Development, the construction firm which heads the consortium planning to implement the Elliniko project. The development of the old Athens airport plot is now closer to getting the green light, with the signing of the necessary presidential degree due to take place on Friday.
Most of the Greek stock market's morning gains evaporated in the afternoon in the week's last trading session, but the benchmark was up on the day after ending lower on the previous two. The market is seeking direction as the lack of any substantial news is not helping it move on, according to observers.
The 37,000 square meters characterized as "forest" by the Piraeus Forestry Authority may turn out to be the Achilles' heel of the 8-billion-euro investment in the development of the old Athens airport plot at Elliniko, according to the chairman of contractor Lamda Development, Anastasios Giannitsis.