London Academy of Music and Dramatic Art

Lamda Development announced that it has signed a purchase and sale contract with Skriti Enterprises Company Limited, owned by the family of shipping magnate George Procopiou, for the sale of plots at Lamda's Elliniko project, for the purpose of developing residential and office spaces as well as an educational institution with an international program.

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 governing board of listed firm Lamda Development has decided to partially revise the allocation of the funds it raised in a recent 650-million-euro share capital increase.
It will now use €12.4 million to acquire a stake in Lamda Marinas Investments SMSA, the company that controls and manages Flisvos Marina at Palaio Faliro in southern Athens.

The necessary demolitions and the other preparatory work on the plot of the old Athens airport at Elliniko will start at the end of March at the earliest, after the relevant amendment was passed in Parliament on Monday.
That period is required to attain the approval of the Central Archaeological Council and the Central Council for Modern Monuments.

Greek real estate company Lamda Development announced on Wednesday that its board of directors will call an extraordinary general meeting to agree on a share capital increase of up to 650 million euros.
In its announcement, Lamda Development also said the company held talks with its partners of Global Investment Group over the last few months but did not reach an agreement.

A day after Canadian mining company Eldorado Gold suspended its activities at Skouries in northern Greece, Lamda Development, which is leading a consortium of investors that aims to turn the site of the capital's former airport into a luxury real estate plot, warned that the future of the Elliniko project is in doubt due to a series of obstacles thrown up by government officials. 

Greece's top advisory body on the protection of antiquities, the Central Archaeological Council (KAS), has ruled that more than 30 hectares of Elliniko, the site of a planned real estate investment in southern Athens, is of archaeological interest.

The 37,000 square meters characterized as "forest" by the Piraeus Forestry Authority may turn out to be the Achilles' heel of the 8-billion-euro investment in the development of the old Athens airport plot at Elliniko, according to the chairman of contractor Lamda Development, Anastasios Giannitsis.

A luxury complex of 140,000 square metres is set to be built on the banks of the Danube in the centre of Belgrade after a court ruling ended years of disputes about ownership.

The complex will include residential units, office space, galleries, a five-star hotel, convention centre, shops, restaurants and a shopping mall.

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.