LAMDA Development reports €1.8 billion in Ellinikon revenues

LAMDA Development has reported significant financial milestones for the first half of 2026. Total revenues from sales and leases at The Ellinikon project exceeded €1.8 billion as of the end of August. Residential development revenues for the first half of the year reached €164 million, marking a 30% increase compared to the previous period.

In the Little Athens neighborhood, 610 out of 750 available apartments (81%) have been sold or reserved as of August 31, 2026. While the company's commercial centers achieved record turnover of €409 million and an adjusted Operating EBITDA of €50 million, the Ellinikon project itself reported a negative EBITDA of €44.8 million and net losses of €111.9 million. Management attributed these losses to lower plot sale revenues compared to 2025 and increased costs associated with intensifying construction activities.

CEO Odysseas Athanasiou noted that strong cash inflows from property sales continue to support construction acceleration. The company also recently completed the official inauguration of The Ellinikon Sports Park.