Lamda Development and Brooklane capital will buy a plot of land from Elliniko SA and will build a mixed-use tower near the Vouliagmeni metro station.
During the tender process for the selection of a co-investor, run by Lamda, Brook Lane was the only investor that submitted a binding offer.
In the joint venture to be formed, Brook Lane will hold 70% of the share capital and Lamda Development the rest 30%. The company will buy the plot from Elliniko SA and will then proceed with the construction of the multi-storey tower. The premises will be developed as for offices and hotels. The tower to be developed by the two companies will have a size of 72 thousand sq.m.
The total investment is estimated at around €200 m. The works are expected to start in 2023 and to be completed in 2025.
Original Source: Euro2day.gr
Adaptation/Summary: Kiki Athanasiadis