Lamda Development signs deal with TEMES for joint development of hotels in Ellinikon

TornosNews.gr 06.03.2023 | 20:38
Α Decrease font Enlarge font
Lamda Development signs deal with TEMES for joint development of hotels in EllinikonThe design of the units will be assigned to globally renowned architecture firms, while the operation of the hotels will be entrusted to world-leading hotel operators

Lamda Development on Monday announced the signing of two strategic cooperation agreements with TEMES SA for the joint development of two state-of-the-art, luxury 5-star hotels and the corresponding branded residences on the coastal front of the Ellinikon, with a construction completion horizon of these developments at the end of 2026, ANA reports.

More specifically, a deal between BELT Riviera SA and HELLINIKON SMSA (the company’s 100% subsidiary) regarding the purchase by the former of 100% of the freehold rights of a property with an area of 80,011 sqm in the development zone “ CF-D2” of the Metropolitan Pole Elliniko-Agios Kosmas, on which, according to the initial plan, the following will be developed: a 5-star hotel with 160 keys, large outdoor spaces and iconic dining and entertainment outlets by the sea, a luxury Beach Club, a Health Club with recreation, fitness and beauty facilities, accompanied also by a residential complex of 17 luxury branded homes/apartments with unobstructed views to the sea.

The above development will be situated adjacent to the prime beachfront residential zone of ultra-luxury residences (The Cove Villas and The Cove Residences). The total transaction consideration is payable in installments and amounts to approximately 38.3 million euros, consisting of the purchase price of the property of approximately 22.3 million as well as the allocated infrastructure costs of the Metropolitan Pole of approximately 16 million euros. The first installment of the consideration of approximately 12.8 million euros, plus relevant taxes, was paid at the signing of the agreement. BELT Riviera SA is controlled 70% by TEMES SA and 30% by HELLINIKON SMSA.

RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report

Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Konstantin von Wedelstaedt

Tornos

  1. 07/12 21:07

    Greece to grant Turkish nationals new fast-track visas to visit 10 Aegean islands

  2. 07/12 20:23

    Greek municipal workers to hold 24 hours nationwide strike on December 14

  3. 07/12 18:16

    Greek police: All Athens metro stops now open

  4. 07/12 16:19

    Greece and Türkiye ink 'Athens Declaration' to refrain from actions that create tension

  5. 07/12 15:35

    Athens Acropolis Museum exhibition featuring works on loan from British Museum

  6. 06/12 23:33

    Annunciation New York City celebrates 19th Annual Stewardship and Mistletoe Galas

  7. 06/12 21:30

    Bill on joint recognition of Greece, Cyprus degrees passes first reading at Parliament

  8. 06/12 20:37

    Greek supermarket sales rise 9.5% in January-October

  9. 06/12 20:25

    Maria Callas celebrated in two exhibits and one installation in Athens

  10. 06/12 19:40

    President of Hellenic Republic meets with her Austrian counterpart in Vienna

  11. 05/12 22:16

    US hails the meeting of the Greece-Turkiye High Level Cooperation Council in Athens

  12. 05/12 21:49

    Traffic restrictions in downtown Athens on Thursday due to Erdogan's visit

  13. 05/12 19:59

    AP: British Museum loan to Greece coincides with dispute over Parthenon Marbles

  14. 05/12 18:54

    Greece, Abu Dhabi and Cyprus ink energy MoU during COP28 in Dubai

  15. 05/12 12:03

    Greek FinMin announces launch of National Investment Fund at 1st Growthfund Summit

  16. 04/12 23:04

    IPTO chief: Starting construction on Greece-Cyprus-Israel power interconnector

  17. 04/12 20:58

    US Ambassador to Athens: Foreign investments in Greece have broken all records

  18. 04/12 19:43

    Traffic restrictions in Athens on Wednesday due to rallies

  19. 04/12 11:40

    Taxi drivers' federation calls rolling 48-hour strikes in Greece until Friday

  20. 03/12 22:06

    Meetings with Greek parties will seek to maximise political consensus on postal vote

  21. 03/12 19:59

    Greek President Sakellaropoulou to officially visit Austria on December 4-6

  22. 03/12 18:56

    Hellenic Initiative 11th Annual New York Gala offers over $2.65 million for Greece

  23. 03/12 18:53

    Greek Development ministry to launch 'Christmas Basket' on December 13

  24. 01/12 22:55

    Hellenic Film Society USA presents Maria by Callas at MoMI in New York

  25. 01/12 21:58

    Greek PM to Bloomberg: I want to preserve the good relations with the UK

  26. 01/12 19:55

    Greece re-elected to the top of International Maritime Organization's Council Category A

  27. 01/12 16:47

    High maximum temperatures in Greece during November

  28. 01/12 15:51

    Festive Christmas tree lighting in Astoria’s Athens Square Park of New York

  29. 01/12 14:46

    President of Hellenic Republic on anniversary of Crete island union with Greece

  30. 01/12 14:38

    British Museum head says talks about a deal on Parthenon Sculptures continue

  31. 01/12 01:42

    Volos and Mount Pelion ready to receive winter tourists in Central Greece

  32. 30/11 22:50

    Google event: Greece aims to become an international hub for AI's code of ethics

  33. 30/11 18:34

    Greek police carry out intensive checks for offences including traffic violations

  34. 30/11 17:42

    Prime Minister announces Greeks abroad can vote by mail in Greek elections

  35. 30/11 01:54

    US Ambassador to Athens: Greece is a rising energy provider in SE Europe

  36. 29/11 19:47

    Greek deputy migration minister meets with visiting China counterpart in Athens

  37. 29/11 18:40

    OECD survey: Greek economy to grow by 2.4% this year and 2.0% during 2025

  38. 29/11 18:29

    HALC launches petition for return of Stolen Parthenon Marbles to Athens

  39. 29/11 12:24

    Minister: Request for Parthenon Marbles arises from law, history, global cultural values

  40. 29/11 11:43

    Kalymnian Society ‘Prodromos’ of Campbell in Ohio marks its 100th anniversary

  41. 28/11 16:06

    Greek PM's greeting on Seferis Office and Roderick Beaton Reading Room event in London

  42. 28/11 11:58

    Christmas holidays opening hours of Athens stores announced

  43. 28/11 09:02

    British government spokesperson assures the UK-Greece relationship is hugely important

  44. 28/11 08:16

    Greek Deputy FinMin: Government trying to close VAT gap with European average

  45. 28/11 07:10

    Unboxing Callas exhibition opens to the public through January 10

  46. 27/11 18:30

    UN World Tourism Organization endorses growing presence on the ground

  47. 27/11 14:51

    Greek merchant shipping fleet rose in numbers during September

  48. 27/11 14:44

    Teatro Grattacielo & Thessaloniki Concert Hall hold La Vestale for Callas Centenary

  49. 27/11 13:33

    Greek budget recorded a primary surplus of 6.08 billion euros in January-October

  50. 27/11 10:29

    Greek PM meeting with investors in London

  51. 27/11 08:55

    Top livestock facilities and animals to be provided to Greece's Thessaly farmers for free

  52. 26/11 12:58

    NBG: Fires, floods, disasters, inflation, costs cutting into Greece’s tourism sector

  53. 26/11 11:05

    Greek PM to BBC: Parthenon Sculptures case is like cutting up ‘Mona Lisa’

  54. 26/11 10:52

    Transport Minister: Thessaloniki Metro project will be fully operational by end 2024

  55. 26/11 09:02

    Boat schedules cancelled due to high winds on Sunday

  56. 26/11 07:08

    Greek government spox: 71% of freelancers declare lower income than minimum wage

  57. 25/11 14:08

    Chinese, Turks and Russians top Greece Golden Visa list getting passports

  58. 25/11 14:05

    Greece-Turkey High-level Cooperation Council 'one more step' in improving relations

  59. 25/11 13:54

    Weather service upgrades warning for 'Bettina' front in Greece

  60. 25/11 10:01

    Event in Chicago about Greek bureaucracy and Greek-American matters

  61. 24/11 14:40

    10th International Summer University Greek Language, Culture, and Mass Media in Boston

  62. 24/11 14:11

    European Union Commission offers €43.1 million in support for Greek farmers

  63. 24/11 12:48

    IPTO has secured enough power to boost launching offshore wind parks in Greece

  64. 24/11 11:43

    Land-use and Green Fund bill passes in Greek Parliament with ruling party votes

  65. 24/11 10:32

    Prime Minister: Port infrastructure in Greece undergoing major revamp

  66. 24/11 07:36

    Energy Minister: Greece could become global protagonist in offshore park industry

  67. 23/11 21:31

    Apartment prices rise 11.9% in Greece during Q3

  68. 23/11 21:09

    Athens Christmas tree lighting ceremony organized on Thursday

  69. 23/11 20:28

    Greek Foreign Minister meets with visiting Indonesian Vice President in Athens

  70. 23/11 15:11

    World-class distinctions bring Athina Luxury Suites at the top once again

  71. 23/11 11:15

    14th Ethnofest - Athens Ethnographic Film Festival opens on November 29

  72. 22/11 16:03

    Greek Cultural Center in Astoria of NYC will soon celebrate its 50th anniversary

  73. 22/11 13:07

    Greek state borrowing program from markets amounts to €9 billion during 2024

  74. 22/11 11:17

    International conference on social dialogue and inequalities in Athens on November 23-24

  75. 22/11 09:59

    Travel receipts rose by 15.2% to 18 billion euros in Greece during January-September

  76. 21/11 14:59

    Minister: Greece and India relations upgraded with the memorandum of cooperation

  77. 21/11 14:08

    National Economy and Finance Minister: Greek economy will rise even higher in 2024

  78. 21/11 13:19

    Greek Foreign Minister travels to Madrid for Euro-Med Group Med-9

  79. 20/11 22:59

    Transport Minister: Greece's entire railway network fully restored by 2025

  80. 20/11 21:39

    Greek airports see record hike in passenger traffic during January-October 2023

  81. 20/11 21:24

    AHEPA Supreme President visits New Haven Chapter 98 and presents Heroes Medals

  82. 20/11 19:13

    Embassy: Energy is the principal pillar of the US-Greece strategic relationship

  83. 20/11 16:10

    Tilda Swinton-Olivier Saillard show 'Embodying Pasolini' at Onassis Stegi in Athens

  84. 20/11 09:03

    Media guide: Get to know Greece’s diverse wines

  85. 19/11 14:29

    Archdiocesan Cathedral Philoptochos organizes the Chrysanthemum Ball in NYC

  86. 19/11 13:21

    Economic good news from EC dominates Greek PM's review of the past week

  87. 19/11 11:24

    Greek Consulate General & Teatro Grattacielo presented Callas tribute in New York

  88. 19/11 09:16

    Media report: Revealing the rich tapestry of Greek wines

  89. 18/11 16:12

    World Tourism Organization launches San Marino action for accessible tourism

  90. 18/11 16:11

    Telefonica and UNWTO to boost digital, sustainable and inclusive tourism

  91. 18/11 14:27

    Greek budget recorded primary surplus of 5.8 billion euros in January-October

  92. 18/11 14:04

    HFSF successfully concludes public offer of 22% of National Bank's share capital

  93. 18/11 13:46

    Ships docked in Greece on Saturday due to strong winds

  94. 18/11 12:59

    Greek PM visits supermarket and is briefed on 'permanent price reduction' initiative

  95. 18/11 10:50

    Event in Seoul marks 70th anniversary of Greece's participation in the Korean War

  96. 17/11 16:04

    UNWTO workshop promotes modern tourism communications for Africa

  97. 17/11 13:20

    Hellenic Professional Women organized Health and Wellness Event in New York

  98. 17/11 11:28

    FAITH Endowment offers 168 scholarships to top Greek American University Students

  99. 17/11 09:37

    Cyprus’ untapped business potential highlighted at event in New York City

  100. 16/11 18:57

    Toronto celebrates the twenty-fifth anniversary of its Theological Academy