Athens, Greece – Lamda Development announced today a major land sale within its ambitious Elliniko project, inking a deal with Skriti Enterprises Company Limited, a company owned by the family of shipping magnate George Procopiou. The agreement paves the way for a substantial development encompassing residential, office, and educational facilities, estimated to reach a total investment value of €500 million.
Skriti Enterprises acquired the plots, strategically located opposite the Glyfada Golf course, for approximately €120 million. The land boasts a generous maximum building area of 85,658 square meters, offering significant development potential.
While specific details regarding the project remain under wraps, Lamda Development confirmed that the development will include a mix of residential and office spaces, catering to the growing demand in the area. Notably, plans also feature the establishment of an educational institution with an international program, further enhancing the appeal and diversity of the Elliniko project.
This latest deal marks another significant milestone for Lamda Development’s flagship Elliniko project, a massive urban regeneration initiative set to transform the former Athens airport site. The project continues to attract considerable interest from both domestic and international investors, solidifying its position as a key driver of economic growth and development in Greece.