Lamda Development says revenue from property sales in Ellinikon to exceed 500 million euros in 2023

Ellinikon Project

Demand for housing and commercial property in the Ellinikon project has exceeded initial expectations, the CEO of Lamda Development told analysts during the presentation of the company's results, adding that revenue from this activity will be more than 500 million euros in 2023. In 2022, Lamda Development's investment portfolio value exceeded 3.0 billion euros, while revenue from house and commercial property exceeded 220 million euros. Athanasiou said that this year Lamda Development will launch the signing of purchase contracts for condos on the beachfront.

Lamda Development said its retail EBITDA totaled 68.6 million euros in 2022, up 51% from 2021, a new record. The portfolio value GAV on the Ellinikon project was 1.95 billion euros, up 159 million from a year earlier, while net asset value was 1.36 billion euros, or 7.78 euros per share, down 5.0 million euros from 2021

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