Greek developer Lamda lands strong interest to build Athens towers -official

Lamda Development SA

02/03/2021 17:03

ATHENS, March 2 (Reuters) - Lamda has received strong
interest from overseas and Greek developers to jointly build two
seaside skyscrapers in Athens as part of a delayed 8 billion
euro ($9.7 billion) project, an official said on Tuesday.
    Lamda  LMDr.AT  plans to build shopping malls and hotels
under a long-term lease of the 1,500-acre Hellenikon airport
site, where disused runways, terminals and former Olympic venues
have been abandoned for almost two decades.  urn:newsml:reuters.com:*:nL8N2E84WP
    The Greek company has also been looking for partners for the
construction of two landmark towers of offices and residences.
    And in a sign of progress, more than a dozen investors
submitted non-binding offers last week, the official close to
the matter told Reuters on condition of anonymity, without
naming the potential partners. 
    The government hopes the project, which was first outlined
in 2013, will create about 10,000 jobs during construction and
attract thousands of tourists in a country badly hurt by a
decade-long financial crisis and the coronavirus pandemic.
    After years of delays due to red tape, political resistance
and local opposition, demolition crews began last summer tearing
down the first of hundreds of blocks that need to be removed.
    And Athens last year picked a consortium led by U.S. casino
operator Mohegan Gaming & Entertainment as the preferred bidder
to build and operate a luxury resort for 30 years.  urn:newsml:reuters.com:*:nL1N2H40WZ
    Lamda has also set up a joint venture to build two hotels in
Hellenikon and has said it aims to start infrastructure at the
site in the first half of 2021.  urn:newsml:reuters.com:*:nL8N2E84WP
    However, authorities still need to clear the way, including
transferring ownership rights for part of the property to Lamda.
    Concluding the deal is also part of reforms Greece needs to
wrap up under an agreement with its lenders from the European
Union after it exited its most recent bailout in 2018.
($1 = 0.8284 euros) 

 (Reporting by Angeliki Koutantou;
Editing by Alexander Smith)
 ((angeliki.koutantou@thomsonreuters.com; +30 2102214608;
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))