Press release - Agreement signed for the provision of Early Contractor Involvement (ECI) services for the Vouliagmenis Mall Complex


Athens, May 30th 2023 – LAMDA DEVELOPMENT informs the investing public that it signed the agreement with the selected advisor, who will provide pre-construction management services in the form of “Early Contractor Involvement (ECI)” for the development of the Vouliagmenis Mall Complex, the largest and most modern retail development in Greece and one of the largest in South Europe.

The advisor is the joint venture between the Italian group Rizzani de Eccher and AVAX group, a partnership between one of the leading contractors in Italy, with extensive global experience in building projects, many of which have been developed using the Early Contractor Involvement (ECI) method, and one of the leading Greek contractors in the field of infrastructure and buildings construction.

The advisor will offer pre-construction management services in the form of Early Contractor Involvement (ECI) to the Company, in the context of the preparation for the construction of the Vouliagmenis Mall Complex, regarding design, planning, procurement, logistics, and construction management.

The CEO of LAMDA Development, Odisseas Athanasiou stated: "Procedures for the construction of Vouliagmenis Mall, the largest shopping complex in Greece, have made another important step, which is the selection of the joint venture of the leading Italian Group Rizzani de Eccher and the AVAX Group as consultants. The implementation of the project continues at an intense pace and on schedule. In the second half of 2023, excavations will start and in the first half of 2024 the main construction works for the construction of one of the largest shopping centres in Europe will begin”.

The Vouliagmenis Mall Complex, designed by the leading architecture firm AEDAS, is the Mall of the future, the largest in southern Europe, 1.5 times the size of The Mall Athens, with 280 stores and an estimated 17 million visitors per year.

1. Total buildable area c.420,000 sqm