Papapolitis & Papapolitis advised Lamda Development on the completion of two strategic cooperation agreements with TEMES SA for the €300 Million joint development of two state-of-the-art, luxury 5-star hotels and the corresponding branded residences on the coastal front of Elliniko, in southern Athens , with a construction completion horizon of these developments at the end of 2026.
More specifically, the agreement is between Belt Riviera SA and Hellinikon SMSA (the company’s 100% subsidiary) and concerns the purchase by the former of 100% of the freehold rights of a property with an area of 80,011 square meters in development zone “CF-D2” of the Metropolitan Pole Elliniko-Agios Kosmas.