The management of Lamda Development estimates that it will sign the binding agreement with the Italian financial services technology group ION for the development of a Research and Innovation Center in The Ellinikon in the first quarter of 2026, according to its CEO, Odysseas Athanasiou.
This is one of the leading developments with a strong footprint for the entire country, as ION is active in cutting-edge technologies. The Research and Innovation Center, with a total built-up area of approximately 250 thousand sq m, will employ 2,000 people from 44 countries. 50 thousand sq m of office space will be constructed, a 1,000-seat amphitheater designed for international events, as well as up to 200 thousand sq m of residential developments for employee housing.
Lamda will receive 450 million for the sale of the land to ION, while the total size of the Italian group’s investment is estimated to exceed 1.5 billion euros The project is expected to be concluded in 2030. During this period, the legal, technical and financial due diligence advances, with information indicating that everything is proceeding according to what has been agreed to date.
As he said, in less than a year athletes will be able to exercise at its facilities, in about 1.5 years the commercial destination on the beachfront (Riviera Galeria) will be operational and in about two years the first houses will be inhabited by their owners.
High interest in purchasing a home from the US
He also added that recently the interest in purchasing a home in The Ellinikon from abroad and especially from the US has increased and now stands at approximately 40%.
Athanasiou also stated that he was particularly satisfied with the trust that private investors showed in the company by taking part in the bond issue.
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