LAMDA Development, the largest real estate development company in Greece, has just shared its strong financial results for the first half of 2024 (H1 2024). Highlights include: 72% increase in Group EBITDA [earnings before interest, taxes, depreciation, and amortization] before valuations to €46.5 million, record-breaking performance across its mall portfolio, with retail EBITDA reaching €44 million (an 8% increase compared to H1 2023) a new record for its Marinas, with EBITDA reaching €10 million (a 9% increase over H1 2023), the Ellinikon, Europe’s largest urban regeneration project, generated €7 million in EBITDA, along with significant progress on residential developments and infrastructure projects; and cash proceeds from property sales at the Ellinikon have reached almost €800 million since the project began, with an estimated total of over €900 million by the end of the year.

Commenting on the H1 2024 financial results, LAMDA Development CEO Odisseas Athanasiou stated: “All business sectors of the Group continued their upward trajectory in the first half of 2024.

Source: The National Herald