Greek: Poseidonos is 50% underground – how are the rest of the projects progressing?

Progress numbers in the mall and in Elliniko (Poseidonos undergrounding and other projects) have been presented before lambda development On the first-quarter 2023 results conference call yesterday with the financial analysts. In this, it was predicted that the Hellinikon project would generally become profitable by the end of the year. By the end of March, 142 million euros had been spent on projects. 50 million euros have been spent on infrastructure projects alone.

Works by Ellinikos

With the progress of the works in Elliniko, the excavation work of the underground project on Poseidonos Street has reached 50%. According to the data provided by Lamda Developmnet on the results of the first quarter of the year, the percentage of concrete pouring in the urban tunnel amounted to about 25%. At the same time, preliminary works began for the flyover at L. Poseidonos, which will connect the beach front to the rest of the Hellinikon investment.

According to information about him Rivera Tower 100% concrete has been poured to a depth of 50 meters below the surface. The percentage of excavation and pile reinforcement work is 60%. In total there are 205 columns. The construction of the diaphragm circumference reached 90%. Let’s remember the projects implemented by Bouygues Batiment International – the Intrakat scheme.

At the same time, for the broken building that will be handed over to the Municipality of Hellinikon, it is expected that the project will be completed during the summer and the handover will take place in the fall.

based on Vouliagmenes Mallthe shape is selected Rizzani de Eccher-AVAX For early contractor engagement (ECI) advisory services in relation to the entire project. Vouliagmenis Mall will be the first shopping mall in Greece to be awarded LEED Gold and has already obtained the pre-certification. The building permit is expected to be issued in July.

You will follow the same path Riviera Gallery Which is also expected to be pre-certified with LEED Gold. It will, in turn, be the first retail complex in the country to obtain this type of certification. The building permit is expected to be issued in July.

Already in January-February, all building permits for Cove Residences (Apartments). For the sports facilities that are part of the Metropolitan Park, the building permit had already been issued last December.

he won

In terms of income from Hellinikon real estate, it is estimated that by the end of the year the revenue will reach 750 million euros, with the amount collected by the end of March amounting to 242 million euros, mainly on the seashore.

In more detail, from the Riviera Tower and other properties in the coastal area, revenues of 600 million euros and another 150 million from other development agreements are expected. The total value of the contracts is estimated to reach €1.2 billion on the coastal front alone.
In Riviera Tower in particular, it has been announced that the sale of all apartments has been completed.

For the Vouliagmenis Mall and the Riviera Galleria in Agios Kosmas, preliminary agreements have been signed for 53% and 30%, respectively. The aim is for this figure to increase to 70% and 50% by 2023. Final commercial agreements are expected to be signed with the tenants by the end of 2023.

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