Lamda Development is planning to proceed with the listing of its subsidiary, Lamda Malls, on the Athens Stock Exchange in the period between May and September 2024, managing director, Odysseas Athanasiou, told the company’s shareholders during the annual general meeting.
The total revenue from the pre-sales of the Ellinikon residential properties reaches 1.2 billion euros, Athanasiou said, adding that 274 million euros have already been collected, another 300 million euros will be collected soon and 700 million euros (cash in the company bank accounts) will be collected at the end of the year.
In addition to other pre-sales (plots, joint ventures) the revenue is estimated at 1.4 billion euros.
The company’s six shopping centers (the four existing ones – The Mall Athens, Mediterranean Cosmos, Golden Hall and the Designer Outlet along with the two under construction in Ellinikon – Vouliagmenis Mall and Riviera Galleria) are gradually being transferred to Lamda Malls with the merging of companies which is in progress.
Today the commercial value of Lamda shopping centers amounts to 1 billion euros and their net worth is estimated at 600 million euros (excluding liabilities).
