LAMDA Development S.A. announces that on August 28, it accepted a binding offer from ION Group, a financial services technology company, for the development of an International Research & Innovation Center within The Ellinikon Project, which will house approximately 2,000 professionals from 44 countries.
The Research and Innovation Center, which will be developed by ION Group in two distinct areas of Ellinikon and will cover a total maximum allowable construction area of approximately 250,000 sq.m., will include at least 50,000 sq.m. of office spaces, a 1,000-seat amphitheater designed for international events, as well as up to 200,000 sq.m. of residential developments to house ION Group professionals.
The total transaction value that LAMDA will receive amounts to €450 million. The total size of ION Group’s investment related to the Research & Innovation Center is estimated to exceed €1.5 billion during its development, which is expected to be completed by 2030. Additionally, ION Group will acquire treasury shares representing a 2% stake in the Company’s share capital. This reflects ION Group’s confidence in The Ellinikon.
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This strategic partnership marks the beginning of creating The Ellinikon Business Center, which is a key component of the project’s general development plan (masterplan), while simultaneously positioning The Ellinikon as a European hub for artificial intelligence and digital transformation.
The new city within the city, through the collaboration of LAMDA and ION Group – which holds a leading position internationally – deservedly takes its place on the international stage of major technological research and innovation centers. This landmark initiative has significant national impact as it is fully aligned with Greece’s vision for its future, in a constantly evolving international environment.
This collaboration will accelerate the development of the broader Attica region and particularly the municipalities of the Athenian Riviera, while enhancing their attractiveness as centers for investment, business activity, residence and commerce.
Andrea Pignataro, founder and CEO of ION Group stated: “The scale, infrastructure and vision of Ellinikon align with our own vision: to combine technology, culture and lifestyle in a pioneering model for the future of work and education, rooted in Greece and open to the global community. We envision this Center to function simultaneously as a workspace and educational facility, while always maintaining the characteristics of a neighborhood, making Athens a European beacon of technology and creativity“.
Odysseas Athanasiou, CEO of LAMDA Development stated: “This landmark agreement strengthens The Ellinikon’s image as a world-class destination and premier investment hub, attracting international partnerships and top-tier investors. It also represents the new standard for the future of modern cities and serves as a model for our country’s name to be heard in the international environment in a positive way“.
