The authorized capital of the Elliniko project has grown by € 650 million

Lamda Development is a successful Greek investor. One of the company's topical projects is the modernization of Elliniko Airport. Currently, the board of directors is discussing an increase in the authorized capital of the urban development project. The estimated amount is €650 million.

According to representatives of Lamda Development, the partners did not agree to increase the authorized capital. In particular, the company Global Investment Group opposed.

Lamda Development is confident in the prospects of the airport modernization project, therefore, it is ready to increase the starting capital. The company will take urban development under its full control since it believes that the largest European investment project after implementation will significantly affect the Greek economy. Namely, several thousand jobs will appear, and the world's largest amusement park will attract more tourists to the country.

Features of the Elliniko project

Modernization of Elliniko is the most ambitious urban redevelopment in Greece. A park will appear on the site of the former airport, which in its scope will surpass all European recreation areas. The project was proposed in 2014, but only now all agreements have been approved.

Especially thoroughly discussed were the technical characteristics of the new buildings since the inhabitants of the Athenian region of Elliniko were categorically against the construction of high-rise buildings in the neighborhood.

The investor had to review all the developments in the design of buildings because it was necessary to harmoniously fit them into the urban landscape of the Elliniko region.

Lamda Development has assured locals that they will be able to freely visit the new park.

Particular attention was paid to the environmental component of the project so as not to upset the natural balance in the region.

What will be done?

-  A modern district with the necessary infrastructure for a comfortable life will appear on the site of the old airport.

- The beach will be converted following modern requirements for water recreation.

- There will be new shopping facilities, hotels, areas for public recreation.

- The planned construction of sports facilities, educational complexes, and research centers.

- In the new park, there will be objects of cultural heritage and a golf course.

The investment group Lamda Development agreed to take control of the public green areas of the area, provide funding for the construction of transport infrastructure and also engineering networks. According to preliminary estimates, the contribution of the project to GDP will be about 2%. Due to the social security system and the state treasury will receive an income of approximately €10 billion over 25 years.

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