Sports facilities, new public spaces, residential developments and the Riviera Galleria are among the projects Lamda Development plans to deliver at the Ellinikon redevelopment over the next 12 months.
The landmark urban regeneration project is gradually entering the operational phase of its first infrastructure assets. At the same time, the company is continuing negotiations with Italian financial technology group ION, aiming to sign a final agreement by the end of July for the development of a Research and Innovation Centre. Plans are also progressing for the large-scale residential, hospitality and educational projects scheduled for the coming years.
The updates were provided on the sidelines of an event marking the listing of the bonds from Lamda Development’s recent 350-million-euro bond issue on the Regulated Market of the Athens Stock Exchange.
Commenting on the transaction, Lamda Development Chief Executive Officer Odysseas Athanasiou said the issue was 1.7 times subscribed, with around 14,000 retail investors absorbing 90% of the bonds. He noted that the group has raised approximately 1.4 billion euros in recent years through bond issues and capital increases.
The first project deliveries at Ellinikon are expected this summer. A large part of the sports centre is scheduled to become operational in July, including athletics facilities, throwing areas, and basketball, football and tennis courts.
Before that, the public will have an opportunity to visit the site, as the EKO Acropolis Rally super special stage is scheduled to take place at The Ellinikon Sports Park.
In December, Lamda plans to deliver the lake area located at the site of the former Olympic canoe and kayak facilities, while work on the Metropolitan Park continues.
According to the company, the sports facilities will be accessible not only to athletes and sports clubs but also to the wider public.
Regarding residential developments, management expects the first housing complexes to be gradually delivered as of 2027, including both the beachfront and residential projects in the Little Athens neighbourhoods.
The Riviera Galleria, the new waterfront retail destination being constructed by Metka on the Agios Kosmas seafront, is expected to be completed in the summer of 2027. The redevelopment of the Agios Kosmas marina is also expected to be completed during the same period.
As for the next phase of infrastructure works, the main construction works for the underground section of Poseidonos Avenue have been completed, with connecting ramps and other remaining works scheduled for completion by 2028.
The branch campus of the University of Nicosia is targeted to begin operations in autumn 2028, while the Kosteas-Geitonas school campus is also expected to open around the same time.
The Healthcare Park, being developed in partnership with Athens Medical Group, is also scheduled for completion during that period, while the Integrated Resort Casino (IRC), jointly developed by Hard Rock International and GEK Terna, is expected to commence operations in early 2029.
Regarding Lamda’s partnership with TEMES for the development of two hotel projects on the coastal front, developments related to the environmental permitting process for Mandarin Oriental, Athens are expected within the next two months.
Discussions are also ongoing for the second hotel project at Agios Kosmas. According to management, alternative development scenarios are being evaluated.
Για να εμφανίζονται περισσότερα άρθρα της Ναυτεμπορικής στις αναζητήσεις σας εύκολα και γρήγορα, πρέπει να προσθέσετε το site στις προτιμώμενες πηγές σας. Μπορείτε να το κάνετε πηγαίνοντας εδώ.
