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Lamda Development: Aiming to raise 150 mln euros from Lamda Malls’ listing on stock market

Lamda Development aims to raise 150 million euros from the listing of its subsidiary, Lamda Malls, in the first half of 2024, on the Athens stock exchange, its managing director, Odysseas Athanasiou, said during the presentation of the strategic and financial prospects of the company on 2023 Investor Day. This amount will be allocated for the construction of its shopping centers in Elliniko and the reduction of its borrowing.

Lamda Malls is “endowed” with the 4 existing shopping centers (The Mall Athens, Golden Hall, Mediterranean Cosmos and Designer Outlet) and those to be built in Elliniko (Vouliagmenis Mall and Riviera Galleria).

Regarding the residential projects in Ellinikon, a scenario was developed based on which if the prices of houses in the southern suburbs increase in the coming years by 1,000 euros per sq.m., Lamda will raise an additional 1 billion euros in revenue.