Odisseas Athanasiou

The management of Lamda Development expects revenues that may even reach 400 million euros from the sale of the Elliniko development's section in which new, bioclimatic office buildings are to be developed.

The process of pre-selling the luxury homes launched by Lamda Development in Elliniko has been completed, with sales rates up to 32,000 euros per square meter, ensuring total revenue of €1.2 billion.

Demand for housing and commercial property at the Elliniko project in southern Athens has exceeded initial expectations, Odisseas Athanasiou, the chief executive officer of Lamda Development, told analysts during the presentation of the company's results on Thursday.

He added that revenue from this activity will be more than 500 million euros in 2023.

LAMDA DEVELOPMENT S.A. announced that its 100% subsidiary, LAMDA ENERGY INVESTMENTS S.M.S.A., signed a share transfer agreement regarding the purchase of 20% of the share capital of R Energy 1 Holding for a cash consideration of €5m.

At Lamda Development's extraordinary general meeting last week concerning the approval of a 650-million-euro share capital increase, the construction firm launched its mission to forge strategic partnerships for the development of the Elliniko plot in southern Athens.