The Greek real estate company Lamda Development announced that the board of directors will call a special meeting to agree on a share capital increase of up to 650 million euros.
Lamda Development also said the company held talks with its partners of Global Investment Group over the last few months but did not reach an agreement. Therefore, Lamda Development undertakes 100 percent of the Elliniko Project.
The company said it is ready to start work on the largest urban development project in Europe, which will have significant impact in the Greek economy, entrepreneurship and local communities.
The project will create, among others, thousands of new job opportunities, one of the largest parks in the world, landmark buildings, and become a world-class destination, with multiple benefits for the country and its citizens.