Lamda Development is seeking investors to build and exploit two out of the six planned high-rise buildings of the Hellenikon Project at the Helleniko near Athens. The project billed as one of the biggest development schemes in Europe will transform the old Athens airport site into a luxury playground.
Speaking at an extraordinary general assembly of shareholders this past Tuesday, Lamda Development CEO Odysseas Athanasiou said Deloitte and Savills have been selected as the lead consultants in the process, which will conclude in the first half of 2021. According to Lamda, the timetable for completion is 15 months after the finalization of contracts. Lamda has secured the concession to erect six 200-meter towers at the site.
Lamda Development has also concluded an agreement with the Temes group, advertised at 300 million euros, for the construction and management of two luxury hotels at the coastal site, along with an upscale residential complex. Temes manages the Costa Navarino resort in extreme southwest Greece, considered as among the best all-inclusive holiday complexes in the country.
The Helleniko site hosted the Athens airport for decades, but has been more or less abandoned and in disrepair for roughly two decades.
Source: Tornos News