LAMDA Development S.A. announced that it has accepted a binding offer from ION Group, a financial services technology company, for the development of an International Research and Innovation Center within The Εllinikon Project, which will house approximately 2,000 professionals from 44 countries.
The Research and Innovation Center, which will be developed by ION Group in two distinct areas of The Εllinikon will cover a total maximum permitted building area of approximately 250 thousand sq m, will include at least 50 thousand sq m of office space, a 1,000-seat amphitheater designed for international events, as well as up to 200 thousand sq m of residential developments to house ION Group professionals.
The total transaction price to be received by LAMDA amounts to 450 million euros. The total size of the ION Group’s investment related to the Research & Innovation Center is estimated to exceed 1.5 billion euros during its development, which is expected to be completed by 2030.
In addition, the ION Group will acquire shares, representing 2% of the Company’s share capital, which – as emphasized in the relevant announcement – reflects the confidence of the ION Group in The Εllinikon.
As emphasized by LAMDA Development, this strategic partnership marks the beginning of the creation of the Εllinikon Business Center, which is a key part of the project’s masterplan, while at the same time positioning The Ellinikon as a European hub for artificial intelligence and digital transformation.
