ILIDA: The new natural landscaped suburb of Athens is born...

Wednesday, January 14, 2004

PRESS RELEASE

ILIDA: The new natural landscaped suburb of Athens is born …

  • ILIDA: the new natural landscaped suburb of Athens that warmly welcomes its residents with vast expanses of flora and fauna and pleasantly developed infrastructure, is currently under development between Kifissias Avenue, the new Athens ring road (the Attiki Odos motorway connecting to the “Eleftherios Venizelos” airport), as well as the electric railway lines, adjacent to the Athens 2004 Olympic Games Stadium.
  • Total surface area: 202.000 m² of which 60.000 m² will be a large park
  • Delivery date for “ATHENS 2004” Organising Committee: April 2004
    Completion of work and delivery to future residents:
    Between Q4 of 2004 and Q1 of 2005
  • ILIDA includes: five spacious neighborhoods carefully designed with pedestrian-friendly footpaths, four to five three-story buildings created with the highest standards and adjacent to a large park. Strategically built in the shape of a “horseshoe”, the new suburb creates a strong ambiance of community living.
  • Investment value: € 400 million of private capital (including the Commercial and Leisure Centre)

Today, the first official presentation of the new suburb was held in a “natural” environment where the name of the new suburb was also announced by LAMDA Olympia Village, the project developer. LAMDA Olympia Village is a subsidiary of LAMDA Development (above 95% participation) and is the result of a cooperation with the Municipality of Amaroussion.

The event began with a speech from the Minister of Culture, Mr. Evangelos Venizelos that was conveyed during the event. Through his speech, Mr. Venizelos expressed the significant contribution of the Olympic Games Media Village in Maroussi toward the successful implementation of the Olympic Games in Greece. Welcome speeches followed from the Executive Director of the ATHENS 2004 Organising Commitee, Mr. Yannis Pyrgiotis and the Mayor of Amaroussion, Mr. Panagiotis Tzanikos. The presentation of ILIDA continued with speeches from Mr. Lambros Anagnostopoulos, Chief Executive Officer, LAMDA Development, Mr. Panagiotis Nikolaou, Chief Executive Officer, LAMDA Olympia Village, and Mr. Lefteris Tassoulas, Commercialization Manager, LAMDA Estate Development.

According to Mr. Lambros Anagnostopoulos, Chief Executive Officer of LAMDA Development, “ILIDA constitutes an innovative development for Greek living standards that responds to Athenian demands for high quality residence. It is an investment that benefits everyone: both future owners and the local community. We are creating a safe, well-designed and functional environment full of vast expanses of richly landscaped areas and a large park that enhances the overall area. It is not accidental that the “ATHENS 2004” Organising Committee selected this location to accommodate the international media during the Olympic Games and to promote the image of Greece throughout the world.”

ILIDA constitutes the inspiration of LAMDA Development. The company’s objective is for this new suburb full of natural landscaped areas to be considered as a benchmark project in the residential real estate sector.

For more information about the new suburb ILIDA, please visitLAMDA Olympia Village’s website: http://www.lamdaolympiavillage.gr

LAMDA Development

LAMDA Development S.A., listed on the main market of the Athens Stock Exchange, is a holding company investing in the development of land, sea and air infrastructure. Combining a strong entrepreneurial drive, specialist international expertise, expert management, powerful strategic allies (Deutsche Bank, EFG Bank Group, Hochtief, Bilfinger Berger, Strabag, Swissport International, Sonae Imobiliaria) and with the business credibility and financial strength of the Latsis Group, LAMDA Development shapes and connects the business areas it is active in, creating growth, reaping synergies and providing value to both its clients and shareholders.

The LAMDA Development group of companies offers its clients integrated business solutions and high quality services and products at competitive prices. Its focus on complementary infrastructure sectors extends to real estate, marinas and yacht maintenance and refurbishment as well as airport services. At the forefront of exploiting numerous opportunities arising from regional developments, such as industry deregulation, Greece’s entry into the Euro Zone with the adoption of the Euro, and the preparation for the Athens 2004 Olympic Games, the LAMDA Development group of companies is leveraging its presence in Greece and neighbouring countries to play a leading role in the modernization and development of Southeastern Europe.

For more information, please contact CIVITAS:
Pandora Lycouri: 210 6835 403
Eva Brouzou: 210 6835401
Efi Kirinopoulou: 210 6852400

ILIDA: Life in a different and innovative suburb

The origin of the name

The selection of the name is inspired and stems from ancient Greece and communicates the unique character of the area, as ILIDA was the name of the valley where the Olympic Games were held.

ILIDA during 2004

Initially, the new suburb will be used to accommodate the international media (Olympic Games Media Village) during the Athens 2004 Olympic Games. ILIDA will constitute the image of modern Greece for thousands of journalists from all over the world who will visit our country. Between Q4 of 2004 and Q1 of 2005, the residential area will reach its final form and will develop into an innovative suburb in harmony with nature.