Announcement regarding Business Developments related to the Ellinikon Project


Agreement between LAMDA DEVELOPMENT and PIRAEUS BANK for the transfer of the Bank’s headquarters in the Ellinikon

LAMDA DEVELOPMENT S.A. (hereinafter the “Company”), in accordance with Regulation 596/2014/EU and the Athens Exchange Regulation, each as applicable, and in relation to the landmark Ellinikon Project, hereby announces that:
On 14.07.2021 the Company signed a key agreement with “Piraeus Bank S.A.”, the first agreement related to Office space following the Share Transfer Agreement for the purchase of HELLINIKON S.A. shares. The agreement, as reflected in the relevant Memorandum between the parties, concerns the purchase by Piraeus Bank of office space totaling 40,000 sqm, for the future relocation of the Bank’s headquarters in the state-of-the-art Commercial District in the Vouliagmenis Avenue, which will be developed by the Company in the Ellinikon.
The development of the aforesaid premium office space will be undertaken by the Company. The development will be completed within the first 5-year phase of the Ellinikon project, i.e. within 2025.
The total transaction consideration amounts to €147m.