Significant acceleration of its cash inputs is expected to have LAMDA Developmentas according to the corporate presentation of May, the total receipts Sales of housing and land in Elliniko is projected to reach € 1.6 billion by the end of the year.
The total revenue expected to be collected by 2027 – 2028, where the first phase of the project is completed, reach 1.77 billion euros. Specifically, according to the latest data from Lamda Development, the expected revenues for 2025 amount to € 550 million. This dynamic reflects the maturation of the company’s investment plans and the acceleration of traditions.
The largest inputs came from the sale of houses, targeting € 700 million by the end of 2024, but eventually reached € 730 million at the closure of the year and € 760 million by the end of February 2025. Accordingly, sales or lease revenue was € 360 million. Overall, the subset of revenue from residential and stadium transactions reached € 1.12 billion, well above the target of € 900 million.
Additional push from shopping malls
The contribution from intra -group land transactions for the project malls (Ellinikon Malls), which earned € 240 million, for a target of € 190 million, is also important. With these data, the total amount raised by sales and agreements at the first phase level is € 1.36 billion.
Allocation
The analysis of the data shows that third parties and consortium transactions (JVS) are the largest part of the activity, with a € 340 million cash collected and a total contractual value of EUR 520 million.
At the same time, the Ellinikon Malls, which are an internal activity of the team, contribute 240 million euros to both collected and total conventional value.
Signed Projects and Expanding Activities
It is recalled that the agreements announced by Lamda include these with TEMES for the development of two resorts, the American Brooklane deal for the development of a housing, hotel and apartment tower, the Orilina Agreement that will build houses and private clubs in Agios Kosma Marina, Hard. Casino complex, the sale of land to shipowner George Prokopiou and Spyros Latsis, the sale of a land for a commercial park in Trade Estates, as well as land disposal at the University of Nicosia, which of course has not yet been given details.
Strong profitability in residential developments
Lamda Development is performing excellent performance in the area of housing developments, with a total gross profit of € 787 million from phase I projects, achieving a 35%gross profit margin.
The houses in the seaside zone that is fully exhausted are the largest project of the company with a total area of 91,100 square meters. With an average sale price of € 12,300 per square meter, a productive profit of EUR 338 million with 30%profitability.
The Little Athens Complex consists of three distinct projects with a total gross profit of € 448 million:
- Park Rise (BIG) – 50m: With 16,000 square meters, the project produced a gross profit of 64 million euros and 36%profitability.
- Mainstream Alimos: The largest work of the complex with 53,600 square meters and average sale price of 8,600 euros per square meter. The gross profit is EUR 146 million with a margin of 36%.
- Mainstream Posidanos: With 61,200 square meters, the project produced the complex’s highest gross profit at € 239 million, achieving the best profitability margin of 44%.
81% of the total Little Athens project has already been sold or committed, indicating strong demand for the company’s products. The total developed surface for Phase I reaches 222,000 square meters with an average sale price of 10,100 euros per square meter.