Investment for Aura Residential at 225 million

The Aura Residential residential complex in The Ellinikon is in the process of securing the necessary permits.

The investment amounts to 225 million (including VAT).

This is a project implemented by the special purpose vehicle of the same name, AURA Residential, in which the Spyros Latsis family (main shareholder of Lamda Development) participates with 80% through Xeris Ventures and Hellinikon SA, a 100% subsidiary of Lamda, with 20%.

In addition to the value of the plot, the total cost of the investment includes a total capex (including VAT) for the construction of 169.320 million euros and 11.5 million (excluding VAT) for the infrastructure projects that will be implemented on the specific plot, in an area of 15,944 sq m.

This investment concerns in particular 4 buildings (three with 11 floors and one with 12) with a final height that will exhaust the maximum permitted in The Elliniko of 50 meters from ground level.

As stated in the Standard Environmental Commitments (SEC) study and the architectural study, the total construction of approximately 26,300 sq m (permitted up to 28,699 sq m) is distributed in 219 apartments of various types (1, 2, 3 or 4 bedrooms), while a refreshment bar is planned to occupy an area of 200 sq m.

The largest number of apartments will be available for rent and a smaller one will be sold, while according to the initial development plan, 287 parking spaces are being implemented, with the mandatory number at 268.