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Lamda Development to develop the Vouliagmeni Tower with Brook Lane Capital

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

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