Lamda Development SA, the company behind Greece’s mega Ellinikon project to go up at Athens’ former airport, entered an agreement this week with Cyprus-based Brook Lane Capital for the construction of a mixed-use tower along the Athenian Riviera.
The 40-floor mixed-use tower to be erected at Ellinikon’s business district along Vouliagmenis Ave is budgeted at 500 million euros and scheduled to be completed in 2028.
The special purpose company, Ellinikon Park Tower SA, controlled 70% by a Brook Lane Capital group and 30% by Ellinikon Hospitality Investments S.M.S.A, will undertake the development of the tower.
Among others, it will include branded park- and sea-view residences, office spaces, and a 5-star hotel with luxury leisure and wellness facilities, conference rooms, and condo-style rooms.
The management of the hotel and branded residences will be awarded to an international management company.
Developer Lamda is aiming through Ellinikon to position Athens as leading international luxury destination.
Source: tovima.com
Latest News
European Central Bank Cuts Interest Rates by 25 Basis Points
It is the fourth cut of interest rates by Europe’s central bank, a move expected by the markets and financial analysts leading to the rate settling at 3%.
Airbnb: New Measures Add €600 in Extra Costs for Property Owners
Property managers face an immediate administrative fine of 5,000 euros if access to the inspected property is denied or any of the specified requirements are not met.
Economist: Greece Included in the Best Performing Economies in 2024
Meanwhile, Northern European countries disappoint, with sluggish performances from the United Kingdom and Germany.
EasyJet Expands Its Routes from Athens
The airline’s two new routes will be to London Luton and Alicante and they will commence in summer 2025.
Capital Link Forum Highlights Greece’s Economic Resurgence; Honors BoG Gov Stournaras
Capital Link Hellenic Leadership Award recipient, Bank of Greece Gov. Yannis Stournaras, an ex-FinMin, was lauded for his pivotal role during Greece’s economic recovery
Tourist Spending in Greece Up by 14%, Visa Card Analysis Shows
Greece’s capital Athens emerged as the most popular destination, recording a 17% increase in transactions with Visa cards, surpassing even the cosmopolitan island of Mykonos.
Inflation in Greece Unchanged at 2.4% in Nov. 2024
The general consumer price index (CPI) posted a 0.4% decrease in November compared to the previous month
2024 Christmas Holidays: Extended Shop Hours Schedule
The 2024 Christmas Holidays extended shop hours schedule commences on Thursday, December 12 and runs until the end of the year.
ELSTAT: Seasonally Adjusted Unemployment Down in October
The number of employed individuals reached 4,284,694, an increase of 67,723 compared to October 2023 (+1.6%) and 22,002 compared to September 2024 (+0.5%).
Greek PM’s Chief Economic Adviser Resigns
In the post on his Facebook page, Patelis did not disclose the reasons that led him to step down.