To express our gratitude and more importantly to show our unwavering dedication to the project, we have delivered the first part of the Ellinikon Park, the Ellinikon Experience Park in less than six months from the transfer of shares, that is open and accessible to all. Moreover, we recently opened The Ellinikon Experience Centre, a world class visitor’s centre, hosted in one of the historic hangars of the Hellenic Airforce to give a glimpse of the future that lies ahead for all.

The company immediately commenced the development of The Ellinikon with projects that are of particular importance, namely the infrastructure works and the new building that will house the associations for people with disabilities. Within 2022 the construction of the beach front residential Tower (Riviera Tower) will commence.

In building this exciting future, we are partnering with the very best. Lamda development has agreed a joint venture with TEMES for the development of two luxury hotels and branded residences on the coastal front. We are also excited that Piraeus Bank and Eurobank will relocate their headquarters to the state-of-the-art business centre while in collaboration with Fourlis Group will create a Retail Park in the commercial district of The Ellinikon.

At the same time, Lamda Development and The Ellinikon are becoming a point of reference for international business. We are proud to have signed important agreements with world leaders such as Brook Lane Capital for the joint development of a state-of-the-art Mixed Use Tower, Mace and Jacobs to which we assigned the role of Project Management Consultant for Buildings, Hill International to provide Project Management Consulting (PMC) services for the Infrastructure and Landscape Program, and the consortium between Bouygues and Intrakat to which we assigned the role of the Early Contractor Involvement for the landmark Riviera Tower.

Despite the evolving geopolitical crisis, the rising costs of materials and fuel, and supply chain disruptions, we remain steadfast to our core commitment: to deliver The Ellinikon per our business plan to shareholders and the community.

Although our focus over the last few years has shifted to The Ellinikon, we are pleased with the performance and the potential of our shopping centres that are on the right track to recovery after the devastating consequences of the pandemic on retail. We would like to thank all our tenants who have persevered in extremely difficult conditions making all our shopping centres a unique and wonderful experience for our customers.

Dear shareholders,

Today, after a long journey, Lamda Development is bringing to life our vision of a new city that all Greeks can be proud of and which signals to the world that Greece is at the forefront of smart living, sustainability, and innovation to the benefit of its communities and citizens.

In this effort, nothing would have been possible without the unwavering support of our shareholders and most of all our biggest shareholder, Spyros Latsis which has never lost faith in the vision that has guided Lamda Development for all these years even in very challenging times.

Finally, at the threshold of this new “epoch”, on behalf of the Board of Directors, I would like to express our gratitude and appreciation to all the people at Lamda Development who have shown passion, devotion, and faith in our vision for the company and The Ellinikon.

Odisseas Athanasiou
CEO