Kronos Business Centre, new headquarters for Procter & Gamble and Hyatt Regency

Monday, January 19, 2004


Kronos Business Centre: New headquarters for Procter & Gamble and Hyatt Regency LAMDA Development creates a new office / retail building complex with high standards

The central offices of the leading international companies Procter & Gamble Hellas and Hyatt Regency will relocate to the Kronos Business Centre under development by LAMDA Development in Maroussi. The leasing procedures are completed while the relocation of both companies is in progress and is expected to be completed within February 2004.

Procter & Gamble is the largest international consumer products company with a wide range of 300 products that are distributed to more than 5 billion consumers in 140 countries across the world, while the Hyatt Corporation is one of the largest international hotel chains in the tourism industry with 207 Hyatt Hotels and Resorts around the world.

The innovative Kronos Business Centre is under development by LAMDA Estate Development (100% subsidiary of LAMDA Development). The office building’s strategic location in the centre Maroussi offer the Hyatt Regency and Procter & Gamble Hellas the significant advantage of direct and easy access to the rapidly developing commercial centre of the northern suburbs. Furthermore, the building’s short distance from Kifissias Avenue, the Attiki Odos motorway, the Suburban railway network and other public transportation outlets, offer easy access not only to all of Athens but to the entire prefecture of Attica.

Specifically, the Kronos Business Centre constitutes a model office / retail complex that offers 4,000 m2 of leasable space, provides large surface areas on each floor (floor plates) as well as three underground levels for business parking spaces, covering a total underground surface area of 12,000 m2.

According to Mr. Alexandros Dimakopoulos, Chief Executive Officer of LAMDA Estate Development, “The development and commercialization of office / retail building complexes constitutes a significant activity for LAMDA Development. By taking advantage of the rising market trend of companies relocating to the northern suburbs, we are developing projects in this area, placing a high priority on innovative designs and exceptional quality, thus responding to the needs of modern businesses. The leasing of our buildings by high-profile clients, such as Procter & Gamble Hellas and the Hyatt Regency, confirm the success of our investments.”

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: +30 210 6835 403; [email protected]
Nectaria Metrakou: +30 210 6835404; [email protected]