With a sale price that will fluctuate between 5,000-6,000 euros / sq.m. from 2023, the process of pre-sale of the next “bakery” is about to begin residenceswhich was put on the path to the start of implementation on the territory of the former airport in Greek. It will be about 1000-1100 properties that will be built on the plots above Posidonos Avenue. According to Mr. Odysseas Athanasiou, its Managing Director Lambda Development“these are prices that are at the low end of selling prices for newly built homes in the wider southern suburbs and therefore real estate they may appeal to buyers interested in buying a new home in the area.”

From 2023 pre-sale of the next real estate “bakery”.

In particular, in the context of the corresponding presentation on the progress of the projects in Elliniko, the leaders of the Lamda Development group announced yesterday that two micro-districts will be created in the part of the property bordering the Alimos area and in the part. located near the site of the L. Poseidonos underground project. In the first quarter there will be apartment buildings up to four floors and about 450 apartments, and in the second quarter there will be about 600-650 apartments, which will be divided into slightly higher buildings, as well as a 50-meter, 15-meter residential building. story tower. Construction work on the above residential facilities is scheduled for the end of 2023 – the beginning of 2024.

​​​​​​At the same time, the process of signing contracts for the sale of 300 luxury properties to be built on the seafront, around the marina Ag. Cosmas. The reason is 28 luxury villas, an additional residential complex of 115 luxury apartments behind the said villas, as well as the residential tower Riviera Tower, which will include 170 apartments. Considering that almost all of the luxury properties in question have been pre-sold, Lamda Development’s goal is to continue with the contracting process in order to generate appropriate revenues. The listed company expects revenue of €200 million by the end of the year and a total of €450 million by the end of 2023. “At the end of October, we will start signing the first contracts for the Riviera Tower with the goal of 20% of the planned sales, i.e. by about 90 million euros,” said Mr. Athanasiou. At the same time, contracts began for the first ultra-luxury villas, where Lamda only sold plots. In fact, according to the head of Lamda, the proceeds from the sale of these first houses in Elliniko will most likely be used to cover the company’s financial needs in order to reduce the need to use loans that it agreed to receive from Bank Piraeus and Eurobank. “Based on our current financing plan of 2.5 billion euros, the same participation applies to the 650 million euros that we have raised by increasing the company’s share capital, that is, about 25% of the total. This percentage could increase to 40-45% in the future through these sales, or even through a portion of the proceeds from the Lamda Malls IPO, which is scheduled for Fall 2023, if conditions permit,” Mr. Athanasiou said.