Announcement regarding business developments

Completion of the sale of land plot in Belgrade 

LAMDA DEVELOPMENT S.A. (the “Company”), in accordance with Regulation 596/2014/EU and the Athens Exchange Regulation, each as applicable, announces the signing on 26.03.2024 of a notarial deed between the company SINGIDUNUM - BUILDINGS D.O.O. (the Company’s 100% indirect subsidiary) and the company MEGAPARK D.O.O. (a subsidiary of BIG CEE based in Belgrade, Serbia) for the sale of a 469 acres land plot, owned by SINGIDUNUM - BUILDINGS D.O.O., in Belgrade. 

The transaction consideration was €15.2m in cash. The accounting net realizable value of the property (inventory) on 31.12.2023 (considering as well the valuation of an independent appraiser) amounted to c€15.2m. 

The transaction forms part of the Company’s existing strategy aimed at focusing on its core activities in relation to the landmark project in The Ellinikon, the Malls/Retail Developments (The Mall Athens, Golden Hall, Mediterranean Cosmos, Designer Outlet Athens, Vouliagmenis Mall and Riviera Galleria) as well as the Marinas.