Mar 9 • 08:00 UTC 🇬🇷 Greece Naftemporiki

Lamda Development expects 2.08 billion euros in revenue from The Ellinikon

Lamda Development projects to achieve 2.08 billion euros in revenue from The Ellinikon project by the end of 2026, with significant profits from residential developments.

Lamda Development has announced that it anticipates total cash receipts from sales of residences and land plots at The Ellinikon to reach approximately 2.08 billion euros by the end of 2026. As of February 2026, the company reported that receipts had already reached 1.53 billion euros. Consequently, an additional 0.55 billion euros is expected in the remaining time left until the target date. These figures reflect the confidence of Lamda Development in the ongoing success of the Ellinikon project, a significant urban redevelopment initiative in Greece.

Investment levels are projected to be substantial, expected to amount to 1.64 billion euros by the end of 2026. To date, around 1.07 billion euros in investments have already been realized as of February. The company reports a strong emphasis on residential development, estimating that its Phase I projects will generate a gross profit of around 479 million euros. The average residential selling price is pegged at approximately 10.6 thousand euros per square meter, with some developments achieving gross profit margins as high as 43%.

Since the project's inception, total cash receipts from The Ellinikon have reached about 1.5 billion euros, sourced from both residential sales, which contributed 1.1 billion euros, and land sales or leases, amounting to 0.4 billion euros. These metrics indicate not only the profitability of the project but also its potential to significantly impact the real estate market in Greece as it moves towards completion. The anticipated financial success speaks to broader economic implications for investment and development in the region.

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