The European Bank for Reconstruction and Development (EBRD) participated in the successful issuance of Lamda Development’s green bond of 230 million euros, investing the amount of 20 million euros, as stated in the relevant EBRD announcement.
In 2019, the bank invested €22.7 million in Lamda’s share capital increase in order to support Hellinikon’s growth. It is recalled that the total demand from the investment public reached record levels of 718.5 million euros, achieving an overcoverage of the issue by 3.12 times, while the large participation with over 14,000 applications from individuals was notable, despite the particularly adverse market conditions investors, as well as the participation of the EBRD.
Vlaho Kojakovic, Head of Real Estate and Tourism at the EBRD, said: “We are delighted to contribute to Lamda’s journey towards a low-carbon transition and the implementation of an investment plan focused on sustainability and climate resilience, through a tailored tool in the capital markets. Elliniko is a flagship project for the transition of the (construction) industry to a high-end, smart and sustainable building and infrastructure area, which offers a flexible mix of land uses and has significant economic, social and environmental impacts on the wider region”.
Odysseas Athanasiou, CEO of Lamda Development, said: “We are very pleased with the EBRD’s participation in our first listed green bond. This transaction further strengthens our relationship with the EBRD, which we consider a strong partner in our journey to make Hellinikon a benchmark project for sustainability and smart living.The great investor response to this bond is a sign of confidence in our commitment to provide the entire society, in a responsible way, with the highest standards of living in an urban environment”.
Emphasis on the continuous strengthening of the relationship of trust with society and citizens
Odysseas Athanasiou also spoke from the floor of the company’s general meeting about the emphasis on the continuous strengthening of the relationship of trust with society and citizens, which is a central point of Ellinikos’ vision. “The encouragement from the citizens and their response is continuous, it is unique and this is exactly what is a source of inspiration for us”, said the CEO of the company Odysseas Athanasiou, who also maintains an open line of communication with the public through social media media from where it informs about all the developments in Hellinikon while correspondingly it draws information and listens to the moods of public opinion.
In the context of the emphasis placed on the public’s image of Greek by Lamda, a targeted survey was recently carried out in two different time periods. From the research that aimed to “measure” the image of the great development of the Greek language in society, it emerged that the majority of public opinion has knowledge and a positive opinion about the project, is informed about developments and responds positively and immediately to its invitations Lamda, as in visiting the Experience Park, being informed about the project through the Experience Centre, but also swimming at the newly renovated beach of Agios Kosmas.
Source: Capital
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