Lamda Development’s revenues from the agreements for Ellinikon totaled 1.4 billion euros, according to the company’s managing director, Odysseas Athanasiou.
Of the aforementioned amount, 1.2 billion euros come from the pre-sales of residential properties (skyscrapers, villas and apartments) and the rest from the plots of land and the joint ventures. Of the 1.2 billion euros, 274 million have been collected, they are soon expected to reach 300 million euros and 700 million euros by the end of the year.
According to Athanasiou, the increased construction cost has been offset by the agreements signed, which he described as “beyond all expectations.”
In the residential tower Riviera Tower on the beach front, all the apartments (170) have been sold at prices starting from 10 thousand per sq.m. and reaching 32 thousand (depending on the floor). Almost all buyers (96%) are Greek.
In the next period, Lamda will gradually ‘launch’ an additional 1,100 residences on the market in various areas of Ellinikon. The managing director of the company, however, did not reveal any prices.
