ILIDA: Within a month, the project will be delivered to "ATHENS 2004" Organizing Committee

Wednesday, May 26 2004

PRESS RELEASE

ILIDA 2004: within a month, the project will be delivered to “ATHENS 2004” Organizing Committee

ILIDA, the new natural landscaped suburb of Athens with vast expanses of flora and fauna and pleasantly developed infrastructure is at the final stage of completion. ILIDA will be used to accommodate the international media (Olympia Media Village) during the Athens 2004 Olympic Games. The completion of the project and the delivery date follows the initial work schedule.

ILIDA will constitute the image of modern Greece for thousands of journalists from all over the world who will visit our country. Between Q4 of 2004 and Q1 of 2005, the residential area will reach its final form and will develop into an innovative suburb in harmony with nature.

  • Total surface area: 202.000 m² of which 60.000 m² will be a large park
  • Completion of work and delivery to future residents: Between Q4 of 2004 and Q1 of 2005
  • ILIDA includes: five spacious neighborhoods carefully designed with pedestrian-friendly footpaths, four to five three-story buildings created with the highest standards and adjacent to a large park.
  • Investment value: € 400 million of capital (including the Commercial and Leisure Centre)

ILIDA constitutes the inspiration of LAMDA Development and is under development by LAMDA Olympia Village. LAMDA Olympia Village is a subsidiary of LAMDA Development and is the result of cooperation with the Municipality of Amaroussion.The Company’s objective is for this new suburb full of natural landscaped areas to be considered as a benchmark project in the residential real estate sector.

The origin of the name

The selection of the name is inspired and stems from ancient Greece and communicates the unique character of the area, as ILIDA was the name of the valley where the Olympic Games were held.

A high-quality residential proposition

ILIDA constitutes a unique residential proposition for Greek living standards. It has been developed in accordance to the high standards of European residential complexes including urban planning, advanced neighborhood services for residents and an utmost respect to the environment.

Conservative residential development

The new suburb offers large areas of natural landscape, five pedestrian-friendly neighborhoods with 4 to 5 three-story buildings, which are strategically configured in the shape of a horseshoe forming independent neighborhood blocks and a large 60.000 m² park. The 20-25% building density (percentage footprint covered), in contrast to the usual 50-70% building density, guarantees a truly ‘conservative development’. Furthermore, this carefully designed community includes a unique architectural and landscape ‘theme’ in each subdivision through the use of various plants, trees and bushes as well as different landscape materials such as stone, gravel, soil and flagstones.

Access
ILIDA represents a main junction-point offering direct access to many important road arteries and public transportation outlets including:

  • Attiki Odos motorway
  • Kifissias Avenue
  • Electric Railway
  • METRO
  • Athens Urban Transport Organization (bus service)
  • Suburban Railway
  • Amaroussion Municipal Transportation (bus)

The apartments
ILIDA’s spacious apartments offer functionality and bio-climatic design, which contributes to energy conservation, and a special architectural design that corresponds to that of the neighborhood in which it is located. Experienced decorators have created beautiful and practical living areas, while the use of high quality equipment and materials guarantee optimum results. Each apartment provides an underground parking area, where cars enter and exit via underground passageways, as well as ample storage space. In addition, the large distance between buildings (approximately 60-70 metres) creates a comfortable space and increases each resident’s sense of privacy and independence.

Management – Innovative services

LAMDA Development guarantees the optimum management of the residential complex through a specialized property management company, which will be responsible for the cleaning, daily care and maintenance of the buildings to ensure exemplary operation of all the facilities. The property management company ensures the proper implementation of operating regulations and is responsible for the supervision and security services for the complex. ILIDA residents are offered a comprehensive package of services that are truly innovative for Greek standards and that respond to the daily needs of a modern way of life. Furthermore, the property management company assures the prompt and effective resolution of problems, offers doorman services and a specialized staff for the proper landscape maintenance and overall care of the area.

For more information about the new suburb ILIDA, please visit LAMDA Olympia Village’s website: www.lamdaolympiavillage.gr

LAMDA Development

LAMDA Development S.A., listed on the main market of the Athens Stock Exchange, is a holding company investing in the development of land, sea and air infrastructure. Combining a strong entrepreneurial drive, specialist international expertise, expert management, powerful strategic allies (Deutsche Bank, EFG Bank Group, Hochtief, Bilfinger Be.