The privatization fund TAIPED announced yesterday that Lamda Development submitted the only binding offer for the Elliniko development project, the site of the former airport of Athens.
The TAIPED’s managing council will now convene to discuss technical aspects of the offer and after consultation, will proceed with the sale. The review is expected to last about two weeks.
On its behalf, Lamda Development argued that its investment in the Elliniko area will exceed 7 billion euros and will contribute towards the environmental regeneration of Attica and the creation of a metropolitan park.
Lamda Development is supported by the Global Development Group, which in turn is comprised of real estate firm Al Maabar from Abu Dhabi, the Fosun Group from China and other European funds.
