Lamda Development, the private Costeas-Geitonas School (CGS) in Athens and Prodea Investments on Thursday announced a three-way memorandum of cooperation (MoC) envisioning the foundation of a modern education institution in the primary and secondary sector.

The MoC foresees the building and establishment of a new private school complex at the Helleniko site in coastal southeast Athens, where ATHEX-listed Lamda has the concession for the multi-billion-euro land development and privatization, which it now calls “The Ellinikon”.

Under the proposed deal, Prodea will hold a long-term lease for a tract of land at the Helleniko site, which it will build the school complex and then sub-lease to CGS.

A final and binding contract between the three sides is expected by the end of the year.

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