Ellinikon: The proceeds from real estate sales will exceed 900 million euros, the new houses at 2,100 euros per sq.m.

In particular, he announced the following for Ellinikon
-Riviera Tower: The Tower is visible from Poseidonos Avenue. The work of the load bearing structure of the superstructure of the two central lift/staircase cores up to the 8th floor is in full progress, while the concreting of the slabs of the 4th floor is also progressing.

-The Cove Residences: on plots 5-6, which include a total of 7 buildings, the load bearing structure's work will be completed within September. On plots 7-8, which include 14 buildings, the foundation concreting work has been completed.

-Park Rise (BIG): in April 2024 the contractor of Phase 1 was installed. The archaeological excavations and all the excavations have been completed. In addition, construction of the building's foundation has begun.

-Other Little Athens developments: excavations have been completed in the Promenade Heights and Atrium Gardens / Trinity Gardens projects, while foundation work has also progressed in the Promenade Heights project. In the Pavilion Terraces project, the required demolitions have been completed and excavation work has begun.

-Posidonos Avenue undergrounding: 83% of the excavations and 71% of the concreting have been completed.

The developments regarding the sales of the investment portfolio (until the publication of the financial results for the first half of 2024) are as follows:

-Sale of plots for residential developments: at the end of July 2024, definitive contracts and pre-sale agreements were signed for the sale of five different plots (near The Ellinikon Mall), total maximum allowable buildable area of ​​approximately 51 thousand. sq.m. The total price of the transaction amounts to approximately 106 million euros, which corresponds to an average price of approximately 2,100 euros per sq.m. buildable area. This price is four times the accounting cost. Of the total price of the transaction, an amount of approximately 32 million euros was collected in July, while by the end of 2024 it is expected that 86 million euros will have been collected in total, further strengthening the cash reserves of the Group. The LAMDA Development Group is expected, after the completion of all individual transactions, to recognize an accounting profit before taxes of approximately 76 million euros, which corresponds to 5.4% of the Net Asset Value (NAV) on 30.06.2024.

- Sale of property for the development of the Mixed-Use Tower: in March 2024, the transaction was completed, with the total price amounting to approximately 39 million euros, while the first installment of approximately 13 million euros was collected. In the financial results of the first half of 2024, the entire income (39 million euros) was recognized.

The total receipts from real estate sales in the Ellinikon Project, as reported by the managing director of LAMDA Development Odysseas Athanasiou, are close to 800 million euros from the start of the project until the end of August 2024, while by the end of the year we estimate that the total receipts will exceed 900 million euros. Proceeds from recent land sales are expected to further boost cash and shore up the Group's balance sheet.

From the announced results, it appears that the Ellinikon project continues to be operationally profitable, which was achieved, as announced, for the first time in December 2023, in just 2.5 years from the start of the project.