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Lamda

ANNUAL
REPORT
2O19

Message from the CEO

Message
from the CEO

Dear shareholders, 2019 was another landmark year for Lamda Development. Our most important milestone was the completion of the €650 mln Share Capital Increase, the highest non-banking share capital increase of the decade in Greece. Through this, Lamda Development reached a capitalization and net asset value exceeding €1 bln, while important new investors, such as the European Bank of Reconstruction and Development (EBRD) and Aegean Airlines -which is now an important strategic partner of the company- have acquired an equity stake in the company, confirming the support of the Greek business community to the Hellinikon project. Now, we are not only a larger company, but a company with new capabilities and prospects. This brings us to a very favorable position with regards to attracting interest from international partners across the business and investment spectrum. Most importantly, the successful completion of the Share Capital Increase is the most positive vote of confidence to the emblematic Hellinikon project, which will give much-needed impetus to the Greek economy and create value for everyone.

2019 was also a year of solid performance for our company. For the seventh consecutive year, we achieved a significant increase in our shopping centers’ operating profitability by 8.6%, while, at Group level, consolidated EBITDA, excluding Hellinikon project-related expenses, increased by 7.9%. Considering the fair value of the properties included in the company’s investment portfolio, the overall EBITDA reached €115.9 mln.

Our source of inspiration and growth is, of course, our clients. Our shopping centers attract 25 mln visitors annually, host 5,500 brands, and support 7,000 jobs. The average occupancy rate is consistently close to 100% and shopkeepers’ turnover reaches €700 mln per year.

We are proud of our consistent performance all these years. Our objective is not just to maintain a leading position in the Greek Real Estate market. We are in constant search for innovations so that we can offer superior shopping and entertainment experiences in our shopping and leisure centers.

To this end, we inaugurated a major part of Golden Hall’s expansion in December, further expanding our entertainment and shopping offering for the whole family. The extension is a €25 mln investment, creating more than 500 new jobs.

Moreover, it is worth noting that in early 2020 we acquired shares of Lamda Dogus Investments S.A. for €12.4 mln, and now we control a 77.23% stake at Lamda Flisvos Marina S.E., the operator of Flisvos Marina.

 

Moving Ahead

2020 started off on a positive note. Even though the coronavirus pandemic has created new market conditions globally, inevitably affecting the Greek economy and the operation of our shopping centers, we have already adjusted to the new realities.

From the start of the health crisis, we promptly adopted all necessary measures to protect visitors and employees at our shopping centers. After 10 weeks over which they stayed closed, we reopened, not only following the guidelines issued by the competent authorities but also adopting and implementing additional measures to ensure the health and safety of our visitors.

Suspending our shopping centers’ operation, however necessary, had serious consequences for all stores. In this unprecedented situation, we had to stand by our partners. For this reason, we proceeded to reduce rents at all our shopping centers by 70% for April and May, compared to the 40% mandated by law. We have also taken initiatives to attract consumers and boost traffic, always putting the safety of employees and visitors first. We need to point out that, despite reducing rents, we maintain sufficient cash to meet the Group’s commitments and we are smoothly implementing our plans for all Group activities, rapidly moving ahead to starting works at the Hellinikon site.

In such a dynamic and changing international environment, adapting is the safest way to achieve any target. As a company, we have proved many times our ability to open new paths, to move forward with speed and flexibility to meet the demands of our times. Our driving force is satisfying our shareholders, our partners, our shopping centers’ visitors and, of course, our employees.

We also draw optimism from the exemplary way our country successfully handled the unprecedented challenges posed by the pandemic, standing out as an example of effective crisis management worldwide. The state’s effectiveness and the collective responsibility shown by citizens enhanced trust in and out of our country’s borders, allowing Greece to further solidify its position as a safe investment and tourist destination.

 

The Hellinikon investment

After a long and adventurous journey, we are now close to the transfer of HELLINIKON S.A.’s shares to our company. We have often referred to the financial and technical aspects of the investment, which constitutes the largest urban development project in Europe at the moment, with an overall budget of €8 bln. This is a project that will give a much-needed growth boost to the Greek economy and will reposition Athens and our country on the international investment and tourism map. As we approach the official start of works, the project’s positive impact on society will gradually also become evident.

Our vision for the Hellinikon is to develop a model, smart city, incorporating cutting-edge technologies and modern urban planning principles. A modern city that will be friendly to its people -locals, employees, and visitors- and the environment. Where there is concrete, we will create large green and leisure communal spaces, a 50 km network of pedestrian and bicycle paths, public transportation for visitors and residents, as well as new infrastructure and systems for efficient energy, water, and waste management allowing for optimum use of natural resources in accordance with sustainability and circular economy principles. Furthermore, existing buildings of historic importance will be preserved, archeological sites will be highlighted and athletic facilities will be redeveloped.

Our vision is our driving force. It has given us faith and strength, even in the midst of the crisis, to overcome adversity and come to the point we are today. Now that Greece is in the spotlight as a most positive example, we have another opportunity to prove that we are ready to take the next step, with realism and commitment to our business plan.

 

Dear shareholders,

2020 marks the beginning of a new era for Lamda Development, as the Hellinikon is moving to its next phase. The Hellinikon is a one-of-a-kind project that will signal the country’s transition to a new era, with a positive footprint that will extend throughout the Greek economy and society.

Our company has proved over time its ability to capitalize on opportunities, as well as its resilience and the methodical fashion in which it managed to tackle the challenges along the way.

The accumulated knowledge and experience earned over the past years, the solid support of our shareholders, and especially the support of Latsis Group, as well as the trust of our shopping centers’ visitors and of our partners in Greece and abroad, constitute guarantees that give us even more incentive to remain optimistic about our company’s prospects and achieving our common goals.

I would like to thank our employees for their devotion and effectiveness, as well as the adaptability they have shown as they continued to work in an exemplary manner, even under unprecedented conditions, towards the realization of our vision.

On behalf of Lamda Development’s management team and employees, thank you for your support.

Odisseas Athanasiou

Chief Executive Officer

more

Financial
Performance

Introduction

01
2019 was a record-high year for Lamda Development, in terms of net profitability and assets. The Group’s consolidated EBITDA, excluding the expenditures related to Hellinikon, reached €50.5 mln, recording a 7.9% increase, while considering the fair value of the properties included in the company’s investments portfolio, the overall EBITDA reached €115.9 mln. The Net Consolidated Profits reached €49.9 mln in 2019, over €42.3 mln in 2018. Offices buildings contributed approximately €0.2 mln to the Group’s operating profitability.
Numerical figures

Numerical figures

1%
increase y.o.y.
EBITDA
(of commercial
properties) in 2019 –
€64.3 mln
1%
increase y.o.y.
EBITDA (overall consolidated
operating results excluding
Hellinikon-related expenses) –
€50.5 mln
1%
increase y.o.y.
On a like-for-like
comparison in terms of
IFRS 16 adaptation
Retail EBITDA
1%
increase y.o.y.
Total shopkeepers
turnover
0.1%
increase y.o.y.
Total number of visitors
increased
€1mln
2019 revenues
€1mln
2018 revenues
€1mln
2019 operating profits
€1mln
2018 operating profits
€1mln
2019 pre-tax profits
€1mln
2018 pre-tax profits
€1mln
2019 profits
€1mln
2018 profits

Share Capital Increase

In December 2019, Lamda Development finalized the highest non-banking share capital increase of the decade in Greece, amounting to €650 mln, with the participation of a high number of investors. Apart from the main shareholders of the company, the participation of the European Bank of Reconstruction and Development (EBRD), which acquired 1.8% of the Company, is also considered a significant development. Furthermore, the participation of key-market investors, such as Aegean Airlines, confirms the support of the business community to Hellinikon project.

Net Asset Value (NAV) in mln €

The Company’s Net Asset Value reached €1,115 mln (€6.54 per share) while the corresponding amount for FY 2018 reaches €438 mln
(€5.64 per share)

 

2015 2016 2017 2018 2019
NAV 0 0 0 0 0,0
NAV per share 0 0 0 0 0
% change –0% –0% –0% 0% 0%
  • 1
  • 1
  • 1
  • 1

2018

  • 1,01
  • 1
  • 1
  • 1

2019

The company’s stock in 2019

The company’s stock price in 2019 was increased by 53.4% mainly due to the successful Share Capital Increase, amidst a period when the ATHEX General Index recorded a lower increasing rate of approximately 49.5%. The stock’s variance was close to 39.3%

INVESTMENT
PORTFOLIO

Introduction

02
In 2019 Lamda Development’s assets continued recording impressive performance. The average occupancy rate of shopping centers scored a constant 100%, while interest expressed by new tenants is currently growing. The overall turnover of shops and the total number of visitors at shopping centers were increased by 2.5% and 0.2% respectively. Specifically, The Mall Athens achieved revenues of €243 mln and an EBITDA of €28.8 mln, Mediterranean Cosmos recorded revenues of €191 mln and an EBITDA of €18.6 mln while Golden Hall’s revenues amounted to €160.5 mln accompanied by an EBITDA of €16.9 mln. Moreover, the Net Loan-to-Value ratio reached 37.1%.
1%
The average occupancy rate of malls scored a constant 100%, while interest expressed by new tenants is currently growing.

Group EBITDA

In mln €
The Mall Athens
  • 1
  • 1
Mediterranean Cosmos
  • 1
  • 1
Golden Hall
  • 1
  • 1
Office Buildings
  • 1.0
  • 0.1
Flisvos Marina
  • -0.1
  • 0.1

Total Turnover of shopping centers

In mln €

Change of

1%
  • 1.0
  • 1.0

The Mall
Athens

Change of

1%
  • 1.0
  • 1.0

Mediterranean
Cosmos

Change of

1%
  • 1.0
  • 1.0

Golden Hall

Change of

1%
  • 1.0
  • 1.0

Turnover

Customer Visits

Customer Visits

All Shopping
centers		 Golden
Hall		 The Mall
Athens		 Mediterranean
Cosmos
H1 2019 –0% –0% 0.2% –0%
H2 2019 0% 0% 0% 0%
FY 2019 0.2% –0.5% 1% –1.0%

* % change of the overall number of customer visits respectively compared to 2018.

Shopkeepers’ turnover

Shopkeepers’ turnover

All Shopping
centers		 Golden
Hall		 The Mall
Athens		 Mediterranean
Cosmos
H1 2019 1% 1% 1.0% 0.7%
H2 2019 1% 1% 1% 1.0%
FY 2019 1% 1% 1% 1%

* % change of the overall number of customer visits respectively compared to 2018.

The Mall Athens

The Mall Athens is the first large-scale commercial center and the largest shopping and leisure center developed in Greece. Its total investment value reaches €320 mln, included among the highest private investments made in Greek real estate. Since its opening in November 2005, The Mall Athens has become a preferred retail and leisure destination for the residents and the visitors of the wider city of Athens. The Mall Athens has approximately 200 retail and entertainment units, spread over five levels, and 58,500 m² of GLA, as well as 90,000 m² of underground GLA including 2,000 underground parking spaces. Its variety of commercial chains, recreational options and distinctive Greek and international brands, have introduced a new era in shopping, dining and entertainment and have made it the ultimate entertainment spot for the Greek family. Strategically located in Maroussi suburb, next to critical road and public transport junctions, The Mall Athens is also known for the 2,500 new jobs it created, and its contribution to the development of the nearby degraded areas.

Investment Portfolio
€1mln
of total shopkeeper's
turnover
Investment Portfolio
1
stores
Investment Portfolio
1,0m²
GLA
Investment Portfolio
1,000
underground parking spaces

Golden Hall

The world famous shopping center Golden Hall, (52,500 m² of GLA) is located on Kifissias avenue next to the Athens Olympic Stadium. Known for its top-class architecture, the Center was recognized at a pan –European level at the European Shopping Center Awards (ICSC), winning the first prize in its category. Golden Hall is designed to redefine shopping by making each visit a pleasurable and stimulating experience. The most famous Greek brand names and the most renowned international ones – many of which are introduced for the first time to the Greek market through Golden Hall – have made the shopping center the new point of reference for quality shopping in Greece, offering a new dynamic to the commercial map of Athens. Since December 2019, Golden Hall has been extended with additional rental units and 200 new parking spaces, aiming to create a memorable, more complete experience for its visitors. These include Xplore, the largest fantasy, entertainment & education venue for the entire family, which is expected to significantly upgrade family entertainment standards in Athens, a gym, department stores, restaurants and cafes and an Aquarium. Additionally, 2020 will mark the inauguration of the “Olympic Museum of Athens”. The Museum will revive the history of the Olympic Games through time, starting from the cradle of the Games in ancient Greece to modern events, featuring rare exhibits and rich interactive audiovisual material.

Investment Portfolio
€1mln
of total shopkeeper's
turnover
Investment Portfolio
1
stores
Investment Portfolio
1,0m²
GLA
Investment Portfolio
1,1
parking spaces

Mediterranean Cosmos

Mediterranean Cosmos (46,000 m² of GLA), is the biggest shopping center in Northern Greece. The center is known for its high number of shops, diverse dining & leisure venues and its wide range of activities for families. It is built and operates under a ground lease from the Ecumenical Patriarchate. The Center provides easy access from the city center and surrounding areas; it is also easily accessible for tourists since it is five minutes away from the international airport and major highways.

Investment Portfolio
€1mln
of total shopkeeper's
turnover
Investment Portfolio
1
stores
Investment Portfolio
0,000m²
GLA
Investment Portfolio
1,000
parking spaces

Flisvos Marina

Boasting a long history in the industry dating back 18 years, coupled with a 20% domestic market share, Flisvos Marina is the highest-ranking Greek tourist port in terms of turnove and enjoys a prime reputation as the ultimate destination for international mega yachts. The marina features 303 berths, 50% of which accommodate boats and luxury yachts exceeding 35 m. in length, perfectly catering to the needs of all mega yachts from Greece and around the world. The port and land infrastructure (90,228 m² in total), as well as the commercial part of the marina have contributed to the creation of a world class facility attracting upscale tourism. From the moment the management and development of Flisvos Marina was undertaken by Lamda, Flisvos Marina in 2002, Flisvos evolved into a leading and multi-award winning marina in the South-eastern Mediterranean, positively overturning the status quo, and setting enviable standards in light of Greek and Europe-wide competition, while also significantly contributing to the upgrade of the wider area. Recently, LAMDA DEVELOPMENT S.A announced that acquired from the company under the name “D- Marinas B.V.” of DOGUS Group, the remaining 50% of the shares issued by LAMDA DOGUS INVESTMENTS S.A. and became its sole shareholder, wholly controlling LAMDA Flisvos Marina S.A.

Flisvos Marina continued its growth in 2019, with revenue from port and property management for the year amounting to 13.8 million, marking an increase of 5% compared to 2018. Since 2017, Flisvos Marina invested on new environmental protection, energy saving and waste management projects, as well as on personnel training. Tenant occupancy in the Flisvos Marina commercial areas for 2019 was 97%, with visits remaining particularly high, with an average 27,000 visitors recorded during the weekends. It is worth noting that over 1,100 people are employed within the marina facilities, specifically working in the yachts, the offices, the commercial and entertainment shops, and as part of the marina’s administration. Flisvos Marina’s commitment to continuous development, focusing on high quality of services, safety and environmental awareness was recognized with the “5 Gold Anchors Platinum” distinction; the highest accreditation of the Global Gold Anchor Scheme. Flisvos Marina is the second mega-yacht marina in Europe to receive the Platinum accreditation. Flisvos was also accredited with the “EFQM Committed to Excellence – 4 star” by the European Foundation for Quality Management (EFQM). It has been awarded with a Blue Flag since 2007 and certified with ISO9001 and ISO14001 by Lloyd’s Register Group since 2008, rendering it Greece’s first marina to hold both certifications. Last but not least, in 2019 Flisvos Marina has published its first Sustainability Report according to the GRI standard. In early-2020 Lamda Development acquired shares of Lamda Dogus Investments S.A., for €12.4 mln, and now the company controls a 77.23% stake at Lamda Flisvos Marina S.E., which is the operator of Flisvos Marina.

Investment Portfolio
1
luxurious
berths
Investment Portfolio
1%
of tenants
occupancy rate
Investment Portfolio
1,0m²
facilities
Investment Portfolio
1,000visitors
in average during
the weekends

The Hellinikon
Project

Introduction

03
Hellinikon Project constitutes the largest greenfield urban infrastructure development investment in Europe, specifically planned to trigger significant new investments in tourism, culture, entrepreneurship, innovation and the environment, which are expected to result to a positive impact, not only for the region of Attica, but for the whole country. Hellinikon constitute a one-of-a-kind urban development project, combining the natural beauty of the area and the unique characteristics of the state-of-the art buildings. The project’s sustainable design, will provide for world-class services and infrastructures, while it will upgrade the citizens’ quality of life. As part of its planning for this project, back in December 2019, Lamda Development, successfully concluded the highest non-banking share capital increase of the decade in Greece, amounting to €650 mln.

General Information

The 6,200,000 m² plot is directly connected with nearby municipalities, creating that way a unique urban continuity. The project’s master plan is based on current infrastructure of the area providing easy and convenient mass-transportation access for its visitors.

The Hellinikon Project
1,0,000m²
of total land area

The Metropolitan Park

The development of Hellinikon-Agios Kosmas 2,000,000 m² Metropolitan Park will be characterized by its environment-friendly design, based on fundamental sustainability principles. The enhancement of the coastal front and the opening of the city’s connection towards the sea, constitute a key environmental and social objective of Hellinikon’s Master Plan.

1,000,000m²
Metropolitan Park
1,000m²
of open green spaces
Less than 1%
of coefficient coverage
1km
of path network for
pedestrian and cyclists
Approximately 1km
of newly developed free
access beach

Positive impact on the economy

Hellinikon is the largest urban development project in Greece’s history. It is a multi-dimensional project which expands over many sectors of the economy, and it is expected to accelerate the country’s economic development , both on a macroeconomic and microeconomic basis.

The Hellinikon Project
€1bln
total investment
The Hellinikon Project
1%
contribution
to GDP
The Hellinikon Project
1,000
new jobs during
construction
The Hellinikon Project
1,000
new jobs during
operation
The Hellinikon Project
€1bln
in tax revenues
The Hellinikon Project
1mln
visitors to
be attracted
The Hellinikon Project
€1bln
of estimated budget for
infrastructure project

Smart City

Hellinikon is a project that has been developed and designed incorporating
smart city concepts and cutting-edge technologies

Smart Metropolitan Park

Central operational efficiency; irrigation automation & smart water management; smart street lighting; safe park; sustainable transport options (ebus/ebikes); traffic management; lower energy demand

Smart Digital Infrastructure

Helps monitor different parameters of the city; analyze the collected data; support adoption of technology; Wi-Fi connected city; promote an innovative and entrepreneurial culture

Smart Buildings

Improve comfort of users; optimize usage of utilities

Smart Mobility

Optimize traffic conditions; customized traffic solutions; reduce environmental footprint; intelligent transport system and traffic management; develop more pedestrian and bicycle-friendly routes

Smart Energy

Optimize energy distribution and usage; enable community-based energy monitoring

Smart Water management

Less water consumption; Reduce cost and leakage; increase reliability and transparency of water distribution

Waste Management

Improve efficiency of waste collection, pickup, separation, reuse and recycle

Human Capital

Introduction

04
Lamda Development recognizes that business success depends on its people and to this end, the company aims at the creation of an excellent work environment that fosters employees’ professional development, implementing strategies to attract, develop and retain human capital and offering equal opportunities to everyone. The company supports its people so that they accomplish their goals through continuous learning and development which is achieved through the implementation of evaluation and development systems. The company implements training programs, tailored to the needs of the employees in order to cover their specific training needs, to facilitate their professional development and to ensure their effective response to the company’s ambitious goals. Lamda Development is committed to the education, the improvement of corporate internal communication and the reinforcement of the corporate culture aiming at the professional fulfilment and development of its employees.

1

employees*
Human Capital
*Total number of employees of Lamda Group
Male-Female
employees
proportion

1%

1%

Distribution
of employees
based on their
education profile

1%

SECONDARY EDUCATION

1%

HIGHER EDUCATION

1%

POST- GARDUATE STUDIES
Human Capital

1,0hrs

of training sessions (an average
of 19 hrs per employee)

Financial and social
benefits of the employees

The company offers a number of financial
and social benefits to its employees

  • Stock option plans for its senior executives
  • Performance-based bonus
  • Health insurance and pension plan
  • Interest-free loans to the personnel in case of urgent needs
  • Blood Bank for the company’s employees and their relatives
  • Christmas presents for employees’ children
  • Rewards to excellent pupils/students
  • Extra maternity leave days
  • Extra educational leave days for master’s degree studies
  • Christmas and Easter gifts for employees
  • Monthly restaurant vouchers.
  • Occupational health and safety provision

Sustainable
Operation

Environmental Responsibility

06
Lamda Development has set environmental responsibility as a main component in its business and commercial operations, bearing always in mind to make fair use of all resources. With a well-planned layout, modern architectural design and model ancillary services, our shopping and leisure centers are aimed to ensure they are run in an environmentally-friendly way, in the context of sustainable development and responsible business conduct. In detail, our centers feature Building Management Systems that ensure monitoring of energy consumption, proper time-scheduled lighting and air-conditioning, improving thus energy consumption and achieving maximum energy efficiency. Moreover, state-of-the-art practices and procedures on waste management are being implemented emphasizing on recycling (separation of five flows – material classes – recycling).

Energy Consumption 2019

Energy Consumption 2019

1,0,000KWh
The Mall Athens
(shopkeepers included)
1,0,0KWh
Golden Hall
(shopkeepers included)
1,0,0KWh
Mediterranean cosmos
(shopkeepers excluded)*
1,0KWh
(Vessels’ consumption excluded)
Flisvos Marina
*Heating & air-conditioning is provided to shopkeepers. Each store has an individual contract for energy supply

Natural Gas Consumption 2019

Natural Gas Consumption 2019

1,0m³
The Mall Athens
1,0,000m³
Golden Hall
1,0,0m³
Mediterranean cosmos (shopkeepers excluded)*
*Restaurants are excluded

Water Consumption 2019

Water Consumption 2019

1,0m³
The Mall Athens
1,0m³
Golden Hall
1,0m³
Mediterranean cosmos (shopkeepers included)
1,00m³
(Vessels’ & tenants consumption is excluded)
Flisvos Marina

Waste Consumption 2019

Waste Consumption 2019

Lamda Development’s commercial centers implement state-of-the-art practices and procedures on waste management emphasizing on recycling (separation of five flows – material classes – recycling). Equally, all used oils and fats, coming from health-regulated establishments, are collected by authorized third parties and so we avoid them being disposed of through local sewerage system. In such establishments, strict standards apply with respect to installing filter arrays in A/C systems, in order to keep air contamination at a minimum.

 

Recycling 2019

1,0Kg
The Mall Athens
1,0Kg
Golden Hall
(shopkeepers included)
1,0Kg
Mediterranean Cosmos
1,0Kg
Flisvos Marina
1,0,0kg
of recycled waste

Landfill Waste

1,0,0Kg
The Mall Athens
1,0Kg
Golden Hall
1,0,00Kg
Mediterranean Cosmos
1,000Kg
of mixed municipal waste
1,000Kg
of composite packaging
Flisvos Marina

Social Responsibility

For Lamda Development, an organization’s starting point for doing business should be its contribution to society and the country’s economic growth. Lamda abides by its ethical commitments with regard to transparency, quality of service, defending human rights, environmental protection and safeguarding cultural heritage, which represent our main principles in terms of Corporate Social Responsibility (CSR). Corporate business activities and the operation of three shopping centers (The Mall Athens, Golden Hall, Mediterranean Cosmos) have created 7,000 jobs and host 547 shops generating an annual turnover of €700 mln. At the same time, numerous notable synergies are deployed between the Golden Hall, The Mall Athens, Mediterranean Cosmos and the Flisvos Marina with Non-Governmental Organizations (NGOs) and other entities. This way all partners may be hosted in public spaces of our company-owned shopping centers in order to communicate their work to an audience of 25,000,0000 visitors annually.

Initiatives with NGOs

Sustainable Operation

Floga: Lamda’s employees donated hand-made gifts in order to be sold during a special Easter Bazaar.

Sustainable Operation

ELEPAP: Employees’ visited ELEPAP’s facilities and joined the children in their drawing activities.

Sustainable Operation

Special High School for Deaf and Hard of Hearing of Thessaloniki:
Two groups of employees visited the school and joined the children in art activities.

Sustainable Operation

Make a Wish Greece: The employees participated in “Bake a Wish” program. They prepared cookies which were later on sold for charity reasons. The amount raised was donated to grant a wish to a child suffering by a serious disease.

Sustainable Operation

Save a Greek Stray: Lamda’s employees visited the organization’s shelter located in Oropos. The employees’ children attended a special educational program.

Sustainable Operation

Alma Zois: The company’s employees participated in the 11th Greece Race for the Cure.

Sustainable Operation

The HOME Project: A group of employees visited the shelter for unaccompanied minors and were informed over the organization’s initiatives and donated material for the renovation of the shelter’s facilities.

Sustainable Operation

Amimoni: Lamda’s employees made Christmas gifts and cards which were donated to the NGO in order to be sold to the upcoming bazaar. Furthermore, the organization’s kiosks were hosted in Lamda’s malls, The Mall Athens and Golden Hall.

Sustainable Operation

“Niki”-Victor Artant: The company’s employees received the organization’s children and offered them Christmas gifts.

Creating Value

The adoption of best practices constitutes a vital part of Lamda Development’s business planning. The company’s main objective is to create value for its shareholders, enhance employment, and further develop services of high added value for its customers.

Sustainable Operation

Zero incidents of privacy and personal data breach have
been reported

Sustainable Operation

Zero incident of non-compliance in connection with rules related to health & safety of visitors

Sustainable Operation

ReTech Innovation Challenge to support innovation