LAMDA Development expands its activities in ThessalonikiLAMDA development has undertaken the development of the Ecumenical Patriarchate property in Thessaloniki

The LAMDA Development Group of Companies has undertaken to develop 25 Ha. of land, the property of the Ecumenical Patriarchate at the eastern gateway to Thessaloniki, where it plans to construct a super-modern commercial and recreation centre.

LAMDA Development was chosen by the Ecumenical Patriarchate after a competition in which some of the biggest development and property management companies in Greece took part, along with four of the country’s major banks.

LAMDA Development proposes to build a modern supra-local commercial and recreation centre on the site. A total surface area of 50,000 m² will be built, while most of the property will consist of green areas and sports facilities. With a budget of approximately Dr. 30 billion, the project is expected to be completed before the Olympic Games in 2004.

Located as it is in a strategic position on Thessaloniki’s national ring-road, close to the new Inter-Balkan Medical Centre, the Hyatt Regency Hotel, the Regency Casino and Macedonia International Airport, the site satisfies all the prerequisites for a successful outcome to the project.

According to the CEO of LAMDA Development, Mr Lambros Anagnostopoulos, “In carrying out the largest private property development project in Thessaloniki and one of the largest in south-eastern Europe, we are making our presence felt in a dynamic way and investing in the development of the Macedonian capital, thus keeping the promise we made here at the Real Estate conference at the beginning of the year.”

LAMDA Development hopes the development will not only serve as a commercial and recreation centre for Thessaloniki, but that it will also be a pole of attraction for visitors from the Balkan countries, thereby helping to upgrade the city as a commercial hub for south-eastern Europe.