The direct inception of infrastructure projects in the Greek signals its announcement Lamda Development to complete the process of technical and financial evaluation of the bids submitted regarding the infrastructure construction projects of the first phase of the project. The process that started in July 2021 resulted in the emergence of the AVAX SA group as the main contractor.
The tasksas mentioned in the relevant announcement and as recently pointed out by the CEO of Lamda Development Odysseas Athanassiou, will begin within of March 2022 and will continue until September 2025. The first phase infrastructure projects, with a budget of over € 250 million (out of a total of € 500 million) will be phased in and include, inter alia, the provision of an extensive road network. The road network includes the undergrounding and the uneven junction of Poseidonos Avenue, as well as the construction of public utility networks to serve all the planned buildings. Among them, as the announcement states, are the buildings of the residential and commercial developments and the sports complex, the Metropolitan Park and the other developments foreseen during the first phase of the project.
As Odysseas Athanassiou stated at the beginning of the month, the urban regeneration projects of the first five years of Elliniko are proceeding normally and based on the initial schedules, with the demand for residential regeneration projects exceeding all expectations. In particular, the demand for housing renovations of the first five years, said Mr. Athanassiou, exceeds initial expectations and the interest has already turned into action. More specifically, for Marina Tower (200 apartments) the Lamda Development has entered into pre-sale agreements for all apartments, with the exception of the last three floors that have not yet been put up for sale, resulting in approximately € 100 million in advances being paid to Lamda by 2022 (20% of the € 500 million total to be paid by the buyers when the final licenses are issued).
Regarding 27 villas provided for in the urban regeneration project for the first five years, also the interest is particularly great, and in 2022 from the pre-contracts of sale will be collected an additional 100 million euros. From the two-storey – three-storey houses provided by the plan for the first five years (100 apartments) will be paid in 2022 advances from pre-contracts of 50 million euros (20% of the total of 250 million euros to be paid by buyers upon completion of the relevant licenses). THE Increased demand which has been observed, if continued, will lead Lamda Development to start the construction of an additional 1,000 homes earlier than originally planned, said Odysseas Athanassiou. The majority of buyers of residential properties are Greeks living in our country or abroad.
Emphasis on recycling and the circular economy
In the construction site of Greek, out of the 425 total buildings that had the area, about 200 have already been demolished. In total, about 50 of the old buildings will remain, each for different reasons. The demolition is done after a series of studies that provide, among other things, the separation and utilization of materials, through recycling processes and even within the construction site to a large extent, in order to avoid the burden of traffic in the area. Water resources will also be utilized to save water, etc.
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