Fosun International Limited

Private equity group Blackstone acquired a 10 percent stake in Greek real estate developer Lamda for 20.2 million euros ($28 million), the latest move by foreign funds warming to Greece's recovery prospects, Lamda said on Wednesday.

Lamda Development presented plans on Tuesday for the utilization of the old airport plot at Elliniko, southern Athens, with the investors who have undertaken the development of the 6.3-square kilometer site (the Latsis Group’s Lamda, Al Maabar from the United Arab Emirates and China’s Fosun Group) claiming they are ready to start work at Elliniko from today.

By Tom Metcalf

Dimitrios Koutsolioutsos, the founder and chairman of Folli Follie SA (FFGRP), has become a billionaire as the Athens-based maker of jewelry, handbags and fashion accessories increased almost 10-fold in the last two years.