Lamda to sign deal on former Athens airport project next week-source

Lamda Development SA

16/06/2021 16:01

ATHENS, June 16 (Reuters) - Lamda Development  LMDr.AT  will
sign a long-awaited agreement with Greece's privatisation agency
next week to secure property rights over the site of the former
Athens airport, an official at the company said on Wednesday.
    The deal will pave the way for privately-owned Lamda to kick
off an 8 billion euro ($9.69 billion) investment in Greece's
biggest urban redevelopment plan after many years of delays due
to bureacratic hurdles and opposition to the project.
    The 1,500-acre Hellenikon airport site on the Athens coast,
where disused runways, terminals and former Olympic venues have
sat abandoned for almost two decades, will include shopping
malls, hotels and residences under a 99-year lease with the
state.
    With the signing of the agreement next week, Lamda will pay
a first tranche of 300 million euros to Greece's privatisation
agency, the official who declined to be named, told Reuters.

    
($1 = 0.8253 euros)

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