Lamda

An attractive salary package, the stability that a large group can offer and the prospect of career development are the main weapons being deployed by leading Greek businesses in the battle to reverse the brain drain and make the idea of moving back home more attractive, in combination with the tax exemptions introduced by the government.

After the credit rating upgrade for Greece by Scope Ratings and the favorable reports on Greek bank stock prices, the local bourse extended its rising streak to six sessions on Monday. In this period the main index has risen by over 5% to highs unseen since late September. Capital Link's Greek stocks roadshow in New York, which kicked off on Monday, could also boost prices further.

The inflow of real estate investment companies (REIC) into the stock market will continue in 2024.

After the stock listing first of Trade Estates REIC, of the Fourlis group, and recently of Orilina Properties REIC, three more companies are in line. They are Noval Property REIC, of the Viohalco group, Intracom Properties and Lamda Malls, of the Lamda Development group.

December appears to have started in a relatively slow mode for the Greek stock market, despite the Fitch Ratings boost last Friday and the decline in Greek bond yields. On Tuesday prices at Athinon Avenue headed lower, though their decline was contained during the closing auctions, while trading remained below the 100-milllion-euro mark. 

The unexpected move by Italy's government to slap a windfall tax on local banks and Moody's downgrading of certain US banks affected European stock markets negatively on Tuesday, leading investors to sell shares and turn to government bonds. Athens followed.

The concession process for some of the country's marinas is speeding up

At the same time, two business schemes - the subsidiary of Lamda Development, Lamda Marinas Investment, and CVC Capital's D-Marinas Hellas - have emerged as key players, controlling an increasing number of marinas, while other powerful groups are now claiming a share.