Lamda Development to get bank funding for new malls
Lamda Development will finance the cost of developing its two malls at the Ellinikon project through bank credit.
The Athens-listed company finds itself in the final stage of negotiations for the signing a new loan agreement amounting to 670 million euros, through which it will cover all funding needs for the construction of both the Riviera Galleria and the Ellinikon Mall.
In a recent analysis Axia Research showed that the total cost is expected to exceed €900 million, including the cost of the land and the side infrastructure projects.
The loans will overcome the problem arising from the postponement of the listing of Lamda’s malls company.
