New record high for Lamda Development shopping malls' operating profitability
New record high for Lamda Development shopping malls' operating profitability
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New record high for Lamda Development shopping malls' operating profitability

Intense investment interest for the Ellinikon malls
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RE+D magazine
27.11.2023

A new historic high for operational profitability in Lamda Development's shopping centers in the Nine Months 2023. The company currently works on the development of the two new centers in Elliniko, the Vouliagmenis Mall (toward Vouliagmenis) and the Riviera Galleria (on the beach)

Τhe Mall, Golden Hall, Mediterranean Cosmos και Designer Outlet Athens αύξησαν τα κέρδη τους κατά 28% στα €61,6 εκατ. έναντι της αντίστοιχης περιόδου τοου 2022 με πρωταθλητή το The Mall το οποίο έφερε σχέδον το 1/3 των συνολικών εσόδων στα ταμεία. 

Να σημειωθεί ότι το Designer Outlet Athens ενοποιήθηκε το Εννεάμηνο 2022 για περίοδο σχεδόν 2 μηνών -από την 06.08.2022

Profits at the Mall, Golden Hall, Mediterranean Cosmos and Designer Outlet Athens increased by 28% to €61.6 million compared to the corresponding period of 2022 with The Mall being first accounting almost a third of the total revenue to the coffers .

It should be noted that the Designer Outlet Athens was consolidated in the Nine Months 2022 for a period of almost 2months - from 06.08.2022

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The average occupancy for the 4 centers reaches 100% (98%) with the total visitors increasing by 23% while the average expenditure decreased by -40% mainly due to Designer Outlet Athens as it increased by 30% in the other three.

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Intense investment interest for the Ellinikon malls

Regarding the new malls under development in The Ellinikon, interest has already been expressed with inked head of terms, for 64% of Vouliagmenis Mall and 46% of Riviera Galleria.

It is been reminded that Vouliagmenis Mall will be the largest shopping center in Southern Europe, approximately 1.5 times larger than The Mall Athens, with 280 stores, while it is estimated that it will welcome 17 million visitors a year.

Aktor is the project contractor for the excavations and preliminary construction works, which started at the end of last month.