LAMDA DEVELOPMENT announced a sales contract with SKITI ENTERPRISES COMPANY LIMITED, owned by the family of shipowner George Prokopiou, for the sale of plots of land within Ellinikon, regarding the development of residential and office spaces as well as the opening of an educational institution with an international program.
The total price of the transaction amounts to approximately 120 million euros, while the total investment of the development is estimated to reach 500 million euros, according to LAMDA DEVELOPMENT.
In addition to the cost of constructing the educational institution, the agreement provides that the purchasing company also undertakes the cost of the planned infrastructure projects within the plots, which are estimated at 150 euros per sq.m.
Prokopiou: We wish to contribute to the vision for an exemplary way of life in The Ellinikon
In his statement, George Prokopiou stated that “the main characteristics of our investment will be our sensitivity to the design of the constructions, with respect to Greek architecture and the existing design of the project, as well as the deep conviction that education is the main pillar of progress and change in society.”
“We wish to contribute to the company’s vision of creating an exemplary lifestyle for the residents of Ellinikon, with open green spaces, in a smart city characterized by quietness, strengthening the dimension of environmental upgrading,” he added.
Athanasiou: Prokopiou shares our vision for Ellinikon
On his part, the CEO of LAMDA DEVELOPMENT, Odysseas Athanasiou, said that “we are particularly happy that today we are completing the second part of our strategic cooperation with George Prokopiou, one of the most pioneering and visionary entrepreneurs. Prokopiou shares our vision for Ellinikon, the new smart, green, modern city that we are already creating.”
“Following the recent sale of 5 plots of land for residential developments in July 2024, this agreement highlights once again the value of The Ellinikon Project. It is noted that the total revenue from these two land sales transactions amounts to 226 million euros, while the total accounting profit totals 158 million euros.”
