With its profitability recording a new record, the Lamda Development Continuing its development strategy Greekpreparing the mood of nearly 500 additional homes.
In “Little Athens”, the first residential core of the Hellenic Core taken by Lamda Development, 522 has already been sold or committed to a total of 559 houses, a percentage of almost 93% of the total. These apartments were absorbed by prices close to 6,000 euros per square meter.
As Lamda’s administration stated yesterday (18.9.2025) in the information of analysts, By the end of 2025 another 100-120 houses will be on the market, and from the first quarter of 2026 another 300-350 houses are planned.thus closing the first phase of the project and further enhancing the commercial dynamics of the largest urban redesign in the country.
The 1st semester course of 2025 confirmed the company’s upward trend, with the financial results reinforced on all fronts and shopping centers and marinas acting as value multipliers for the group and the market.
Historically high performance in shopping malls and marinas
In shopping mallsPrior to the valuations, the EBITDA operated at a new historical high, at € 45.5 million, increased by 4% compared to the first half of 2024. At the same time, the total turnover (turnover) of the stores reached EUR 389 million, the largest amount recorded ever.
Correspondingly positive is the picture in the marinas. Despite the gradual reduction of mooring positions in Agios Kosmas – due to the extensive upgrades that will allow larger boats to be hosted – operating results have set a new record, with EBITDA 10m euros and a 5% increase on an annual basis. In addition, marinas revenue amounted to € 16.6 million, up 8% annually and setting another new record for the group.
The Greek It continues to function as a basic growth lever. EBITDA stood at EUR 53.1 million in the first half of 2025, a performance corresponding to an increase of 7.5 times compared to the corresponding period of 2024. Total cash receipts from real estate sales have reached 1.4 billion euroswith “Little Athens” already absorbed 93% of the 559 homes available.
Lamda’s total investment portfolio is now valued at 3.7 billion eurosas yields squeezed significantly the value of real estate, adding About 130 million euros in four Malls in operation (The Mall Athens, Golden Hall, Mediterranean Cosmos, Designer Outlet Athens). At the same time, the commercial progress of projects under development in Hellenic remains strong, with 78% of the heads of Terms for Riviera Galleria and 64% for Olympia Mall already signed, at improved lease levels that reflect the dynamics of demand.
Developments that reinforced the group’s strategic background
Lamda Development’s strategic background was reinforced by two recent developments: repaying a Green Bond of 230m euros in July, which improved financial costs (total Hedging borrowing costs to 3.8%, from approximately 4%) and the start of 450m euros in transaction. Innovation. It is a landmark movement that essentially launches the Master Plan business zone and creates an innovation hub capable of attracting high profile companies. The transaction concerns GFA 250,000 square meters, with about 180,000 sq.m. to be attributed to the investor and over 100,000 sq.m. to remain available for future utilization – a field that is already raising corporate interest.
At the group level, consolidated results after valuations amounted to EUR 237 million, overflows on an annual basis, while the net result turned to € 128 million from losses a year earlier. The NAV per share stood at € 9.22 – without even including the impact of the transaction with ION. The investment portfolio increased to 3.7 billion euros from € 3.5 billion at the end of 2024, with commercial real estate compression in support. In the fund, the available was 700m euros at the end of June and about € 400m after the bond was repaid, levels considered healthy and compatible with the investment program, according to the Lamda Development administration.