Lamda Development, the concessionaire of the massive Helleniko privatization in coastal southeast Athens, on Tuesday reported a 121-percent increase in nine-month EBITDA – 77 million euros – compared to the corresponding period of 2022.
The ATHEX-listed property developer’s malls division reported record-high EBITDA of 62 million euros, up 28 percent compared with the Jan-Sept 2022 period. Lamda’s marinas division reported EBITDA of 14 million euros, up 7 percent in comparison to the nine-month period of 2022.
Results for the company’s Ellinikon project, as the massive land development is now called, showed total cash proceeds of 241 million euros over the nine-month period this year, with overall proceeds since the project’s inception now reaching 448 million euros.
The group also reported zero bank debt and total revenues for the 9M period totaling 107 million euros.
The most prominent progress cited by Lamba for its Ellinikon project is completion of foundation works for the Riviera Tower, one of a handful of high-rise buildings planned at the 620-hectare tract of land along what’s billed as the “Athenian Riviera”.
Πηγή: tovima.com
Latest News
The 12 Tourist Traps to Avoid in the Greek Islands
Visit less popular islands for cheaper prices and fewer crowds
German Min. Lemke: «Climate crisis poses immediate threat to our health; well-being»
Europe recorded more days of “extreme heat stress” (with the ‘feels like’ temperature exceeding 46 degrees Celsius) than ever before
OECD: Major Spike in FDIs in Greece over 2021-23 Period
The international organization calculates an average of 6.7 billion USD in Greece over the 2021-2023 period, up from 4.15 billion USD in 2017-2019
How TikTok Lost the War in Washington
Combination of coordinated efforts by its critics and missteps by the company led to the law forcing a sale or ban of the popular app
Greece in the Top European Destinations for Aussies in 2024
This year 16% of surveyed Australians are planning a trip to Greece
Developing the Blue Carbon Economy in Greece
Can Greece make money by protecting its marine environment?
EIB Appoints Greece’s Ioannis Tsakiris as New VP
Ioannis Tsakiris started the new role May 1 after spending 15 years at the European Investment Fund (EIF) and serving as Greece’s Deputy Minister for Development and Investments
Two Greek Beaches in Top 50 in the World
Both Greek beaches were on the list of the best beaches in Europe too
Eurostat: Greece 20th out of 26 European States in Hourly Average Wage
According to figures released by Eurostat, the Benelux Grand Duchy of Luxembourg, one of Europe’s hubs for finance, is in first place
Greek Property Renovation Surge amid Economic Constraints
This has led to a notable escalation in renovation costs, with average prices per square meter exceeding previous norms and reaching even 1,000 euros in premium locations