Elliniko finally passes on to Lamda Development

A decade after the start of the concession process for the former Athens airport plot at Elliniko, the vehicle to implement its development into the biggest commercial and residential project in the Balkans has finally been passed on to contractor Lamda Development.

The Athens-listed company on Friday handed over the first tranche of the 915 million euros due, paying €300 million to state asset utilization fund TAIPED, and signed the acquisition of Elliniko SA in the presence of the ministers of finance, Christos Staikouras, and development, Adonis Gerogiadis.

This allows for the start of construction work on the site.