According to a report from ekathimerini, Greece is missing out by not having as many shopping malls as other destinations. The report reveals that the country has only 57 square meters per 1,000 inhabitants, just 6.7 percent of the total of first-place Norway (857 sq.m.) and less than fellow Balkan countries Bosnia-Herzegovina (98 sq.m.) and Serbia (88 sq.m.).
The news also tells of €1 billion in investment in Greece shopping malls in the near future. According to a report from portfolio management company Pepper Hellas, a subsidiary of Australia’s Pepper Group, Lamda Malls SA along will be but one of the developers pushing to invest in Greece.
In addition, a subsidiary of Lamda Development and Minneapolis-based Varde Partners plans to build Europe’s biggest mall in Greece. The new edifice will be 250,000 sq.m., which will outshine Westfield London (242,000 sq.m.) and Moscow’s Aviapark (230,000 sq.m.). Lamda Development will also expand its Golden Hall mall, near Athens’ Olympic stadium, according to the news.
An even bigger project is underway by R.E.D.S., a subsidiary of Ellaktor. The so-called Cambas Project at Pallini, east of Athens, is a 200-million-euro development where once the Cambas family winery was the only large entity. Now the land will be mixed-use featuring shops and entertainment facilities, offices, a hotel, and a cultural center.
The Dutch group Ten Brinke is planning a big mall on Crete. The 40,000 sq.m. According to the original GEOCONSULT Ltd. assessment, the new mall will have 3 garage basements in Platanias, along the Chania-Kissamos highway, in the west of Chania.