SPV plan for Elliniko offices

The management of Lamda Development expects revenues that may even reach 400 million euros from the sale of the Elliniko development's section in which new, bioclimatic office buildings are to be developed.

According to the update carried out on Tuesday by the company, a special purpose vehicle (SPV) will be created, which will include the plots where buildings for office use have been zoned.

"We still haven't decided how much of the total 200,000 square meters of office space we will fit into this vehicle. This will depend on the demand that emerges. It is possible to include 70,000 sq.m., or even 150,000 sq.m. We estimate that the revenues could range between €200 and €400 million, depending on what is eventually integrated into this new company," said CEO Odisseas Athanasiou.

However, the company's management is already in discussions with interested...