Lamda Development signed a Memorandum of Understanding with Orilina Properties, based on which an investment of 70 million euros will be examined from the second one with a total buildable area of 5,790 sq.m. on the coastal front of Elliniko.
According to a relevant announcement, the agreement concerning the stadiums in the wider area of the Marina of Agios Kosmas, provides for the development by Orilina of a residential building and other ancillary facilities (up to 4,565 sq.m.) as well as a building with restaurants, recreation areas, wellness, events and catering related products (up to 1,225 sq.m.).
It is emphasized that these buildings will be an integral part of the wider developments of the specific area of the Coastal Front, and the general development of the Greek.
The announcement of Lamda Development in detail:
“LAMDA DEVELOPMENT SA (” Company “), in accordance with Regulation 596/2014 / EU and the Athens Stock Exchange Regulation, each as in force, announces the following regarding the emblematic work of Elliniko:
In the context of the implementation of the business plan for the development of Elliniko, ELLINIKO MAE. signed a Memorandum of Understanding (hereinafter “MoU”) with ORILINA PROPERTIES AEEAP (hereinafter “ORILINA PROPERTIES”), under which the parties will consider the acquisition by ORILINA PROPERTIES of the right of surface area of Elliniko and especially on stadiums, in the wider area of the Marina of Agios Kosmas.
These plots, with the possibility of a total buildable area of up to 5,790 sq.m. are located between the residential tower Riviera Tower and the commercial destination of Riviera Galleria. Within these plots, will be developed by ORILINA PROPERTIES, on the one hand a residential building and other ancillary facilities for their service (with the possibility of a total buildable area of up to 4,565 sq.m.), and on the other hand a building that will include dining, leisure, wellness, events , as well as the sale of catering related products (with the possibility of a total buildable area of up to 1,225 sq.m.).
The total investment by ORILINA PROPERTIES for this development is estimated at € 70m.
This MoU refers to the development of buildings that will be an integral part of the wider development of the specific area of the Coastal Front, and the general utilization of the Greek “.
Source: Capital
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