Lamda Development expects 2.08 billion euros in revenue from The Ellinikon

Total cash receipts from sales of residences and land plots at The Ellinikon are estimated to reach 2.08 billion euros by the end of 2026.

According to Lamda Development, receipts reached 1.53 billion euros by February 2026; therefore an additional 0.55 billion euros is expected by the end of 2026.

Investments are expected to reach 1.64 billion euros by the end of 2026, compared to approximately 1.07 billion euros already realized as of February of this year.

On the residential development front, the company estimates that Phase I projects will yield a total gross profit of approximately 479 million euros, with an average residential selling price of about 10.6 thousand per square meter and gross profit margins reaching as high as 43% in certain developments.

In total, from the project’s inception until February 2026, cash receipts from Ellinikon have amounted to approximately 1.5 billion, of which 1.1 billion comes from residential sales and 0.4 billion from land sales or leases.

Meanwhile, Lamda’s CEO, Odysseas Athanasiou, stated that the completion of the residential Riviera Tower on the development’s coastal front is expected in May 2027. The remaining residences on the coastal front and in the Little Athens neighborhood are also scheduled for delivery in the same period.