The Hellenic Republic Asset Development Fund (HRADF) has announced that Hellinikon Global I S.A., a subsidiary of Lamda Development, paid the second installment for acquiring 100% of the share capital of Hellinikon S.A.

The amount of the transaction is EUR166.65 million (US183.55 million). Hellinikon Global I S.A. paid a second installment of 51% of the total amount, thus an amount of EUR915 million (US1 billion) was paid. Upon finalizing the financial transaction, HRADF obtained a sum of EUR300 million (US330 million). The project involves the development of Hellinikon Airport and the coastal area of Agios Kosmas in Greece. The property will extend to an area of 6,200,000 sq m. The aim is to create a modern, green and digitally advanced city that will be a model of sustainable development and will highlight the cultural heritage of Greece, as well as the formation of a new urban pole of entertainment, recreation and sports, which will be accessible to all. 

The project will anchor Greece on the global investment and tourism map, including the latest technologies and principles of urban design and architecture.