Total proceeds from property sales for the Ellinikon project reached 1.4 billion euros from its launch until 25.08.2025, according to data released by Lamda Development.
Based on the data, 93% of the 559 residences of Little Athens have been sold or reserved. In particular, according to the company, the apartments in the Little Athens neighborhood are recording significant commercial success. Until 25.08.2025, 559 apartments had been put on the market for sale. Of these, sales and reservations by interested buyers currently totaled 522 apartments, i.e. 93%. Furthermore, revenue from residential developments amounted to 126 million euros in the first half of 2025, up 51% compared to the corresponding period in 2024, confirming the now significant contribution of residential developments. In addition, in the first half of 2025, revenue from property sales (mainly sales of plots) reached 104 million euros, an increase of 49% compared to the corresponding period last year.
Total cash receipts from property sales/leases from the start of the project until 25.08.2025 exceeded 1.4 billion euros, with receipts in the first half of 2025 amounting to 288 million euros. Cash reserves attributable to the Ellinikon project totaled 355 million euros on 30.06.2025 (compared to 290 million euros on 31.03.2025), while no bank loans were disbursed for the Ellinikon project, despite the existence of an approved credit line from the lending banks totaling 232 million euros.
During the first half of 2025, capital expenditures (CAPEX) for buildings and infrastructure projects amounting to 181 million euros were made, with the total capital expenditures, from the start of the project to 30.06.2025, reaching 744 million euros.
On 28.08.2025, Lamda Development accepted a binding offer from the ION Group for the acquisition of land for the development of an International Research & Innovation Center, which is subject to the completion of legal, technical, and financial due diligence as well as the finalization and signing of the contractual documents.
