Lamda Development Secures Financing for Ellinikon Project
Lamda Development has announced that it will be financing the development of its two malls at the Ellinikon project through bank credit. The Athens-listed company is currently in the final stages of negotiations for a new loan agreement worth 670 million euros, which will cover all funding needs for the construction of the Riviera Galleria and the Ellinikon Mall.
According to a recent analysis by Axia Research, the total cost of the project is expected to exceed €900 million, taking into account the cost of the land and side infrastructure projects. This financing will help Lamda Development overcome any challenges arising from the delay in the listing of its malls company.