In a stunning financial feat, the Lamda Development group has shattered records with its 2023 performance, marking a significant leap forward in profitability.
The group proudly announced a consolidated operating result (EBITDA) for 2023, showcasing profits of 206 million euros, a remarkable 69% surge from the previous year’s €122 million. Even more impressive is the total EBITDA before asset valuations and adjustments, which soared to €132 million in 2023, a stark contrast to the €13 million loss in 2022.
As Lamda Development continues to make waves, all eyes are on its ambitious Ellinikon project, set to redefine Athens’ iconic coastline. Scheduled for completion in 2026-2027, this transformative endeavor promises to reshape the landscape and inject new life into the Greek capital.
During an exclusive interview with Bloomberg, Lamda Development CEO, Odisseas Athanasiou, shed light on the project’s monumental potential for Greece. “When I say finish, I’m talking about a project that in total has the size of three times of Monaco just to get it comparable,” Athanasiou revealed, emphasizing the sheer magnitude of the undertaking.
With its unparalleled scale and vision, the Ellinikon project is poised to deliver significant economic benefits, with Athanasiou boldly asserting that the “Ellinikon” project will add 2.5 PPS to Greek GDP.
As Lamda Development continues to lead the charge in redefining urban landscapes and driving economic growth, the world eagerly awaits the realization of its ambitious vision.
