LAMDA Development completes delivery of the Olympic Media Village in Maroussi to the ATHENS 2004 Organising Committee

Wednesday, 21 July 2004


LAMDA Development completes delivery of the Olympic Media Village in Maroussi to the ATHENS 2004 Organising Committee

The village will serve as the hospitality centre for international media

The hand-over procedure of the Olympic Media Village in Maroussi under the terms of the delivery protocol was completed on July 9, 2004. Specifically, LAMDA Development delivered to the ATHENS 2004 Olympic Games Organising Committee a high-standard project, composed of 241 apartment units, that surpasses the criteria set by the Committee. The delivery procedure started in mid-May 2004.

The Olympic Media Village is one of the only two privately financed Athens 2004 Olympic Games projects. The development covers a total surface area of 202,000 square metres and represents an investment value of €400 million of private capital.

Olympic Standards of Hospitality

The Olympic Media Village aligns with all international standards, providing security, comfort and functionality. The foreign journalists will be the first residents to enjoy the main services of the Media Village including air-conditioning, ISDN lines and satellite connection, as well as rooms with a view and spacious balconies. Furthermore, due to the excellent land scape and to a truly ‘mild’ development, the international media “guests” will be able to move around easily in a comfortable, pleasant and safe environment.

Direct Access to Olympic Facilities

The Olympic Media Village has been developed at a particularly advantageous location for the visiting journalists, providing less than a five-minute walk to the Centre of the Olympic athletic activities (the OAKA Stadium) and the Press Centre (IBC, MPC). In parallel, the Media Village’s location at a main junction-point ensures easy access to the other Olympic facilities via major road arteries and public transportation systems (Attiki Odos motorway, Kifissias Avenue, Electric Railway, METRO, Athens Urban Transport Organisation bus service and the Suburban Railway).

Mr. Panagiotis Nikolaou, Chief Executive Officer of LAMDA Olympia Village, declared: «We are proud to have contributed to the successful organisation of the ATHENS 2004 Olympic Games. The Olympic Media Village will be the international media’s first contact with Greece’s modern image. After the Olympic Games, the Village will be developed into an innovative suburb, according to the Greek standards that will respond to the high living standards of the residents of Athens. The Olympic Media Village’s lock down will take place on July 28. One week later, the international media’s welcome to Athens will be completed. From mid-September - when the project will be returned to LAMDA Development – until the first quarter of 2005, both the homes in the ILIDA suburb and their surrounding environment will take their final form as a high-quality landscaped neighbourhood.

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 South-eastern Europe.

For more information, please contact CIVITAS:
Pandora Lycouri: 210 6835403,
Eva Brouzou: 210 6835401,
Efi Kirinopoulou: 210 6852400