Total sales receipts amounted to € 1.4 billion in € 1.4 billion real estate for the project Greek (The Ellinikon) from its start to and 28.8.25.
According to official data released by Lamda Development for property sales for the Hellenic project, 93% of the 559 homes of Little Athens have been sold or committed, on the occasion of the announcement of the financial results of the first half of the 2025.
In more detail about the project in Elliniko, the most important achievements, as announced by Lamda Development to date are as follows:
- Significant commercial success continues to record apartments available for sale in the neighborhood of Little Athens. By 25.08.2025, 559 apartments were available on sale. Of these, sales and bookings from interested buyers currently amount to 522 apartments, ie 93%. Further, revenue from residential developments in the first half of 2025 amounted to € 126 million increased by 51%, compared to the corresponding period in 2024, confirming the significant contribution of residential developments. In addition, in the first half of 2025, revenue of € 104 million was recognized by real estate sales (mainly land sales), increased by 49% compared to the same period last year.
- As a result of this commercial success, total cash receipts from property sales/leases from the start of the project until 25.08.2025 exceeded EUR 1.4 billion with the revenue in the first half of 2025 amounting to EUR 288 million from the beginning of 2025. 30.06.2025 (compared to EUR 290 million on 31.03.2025), while for another period no bank loans for the project in Elliniko were disbursed, despite the existence of an approved credit line by the lending banks amounting to € 232 million.
- During the first semester 2025 capital expenditure (CAPEX) for buildings and infrastructure projects amounting to EUR 181 million, with the amount of total capital expenditure, from the start of the project until 30.06.2025, is now stood at EUR 744 million.
- On 28.08.2025, Lamda Development accepted a binding bid by the ION Group to acquire land for the development of an International Research & Innovation Center, which is under the completion of the legal, technical, and financial audit, and the finalization and signature of contracts.
The Group’s consolidated profits increased by 4.4 times in the first half of 2025.
Lamda Development for my first half of 2025 announced, among other things, consolidated net results (after interest, taxes and minority taxes) of € 127.9 million, against losses of € 18.7 million in the same period last year. He also announced that the Group’s consolidated profits increased in the first half of 2025, compared to the corresponding period of 2024 by 4.4 times, and amounted to EUR 237 million.
Commenting on the financial results, Lamda Development CEO Odysseas Athanasiou said: “Lamda Development is entering a new era of development. The four shopping malls, in operation, and the marinas continue to record a new record of profitability. Hellenic continues its growth potential, recording EBITDA over € 50m for the first half, while the progress of construction works is significant. At the same time, Lamda has announced a strategic cooperation of € 450m with the ION Group for the development of an International Center for Research and Innovation, reinforcing the position of Hellenic as a world destination and top investment hub, which attracts international partnerships and investors.