kathimerini.gr
Ellinikon Mall Project Nears Contractor Selection, Total Cost Exceeds €1 Billion
Greece's Ellinikon Mall project, with an estimated cost of €600-650 million (excluding infrastructure and financing), is nearing contractor selection; Lamda Malls will contribute €275 million, with bank loans covering the rest; the total cost for both Ellinikon and Riviera Galleria malls exceeds €1 billion.
Greek
Greece
PoliticsEconomyHealthcareGreeceInfrastructureSocial WelfareConstructionPensions
Lamda MallsΜετκαMetlenΟσεΕργοσεΓαιαοσεΠαντείου ΠανεπιστημίουΕνιαίο Δίκτυο Συνταξιούχων
Κυριάκος Μητσοτάκης
- What is the total estimated cost of the Ellinikon Mall project, and how will it be financed?
- The Ellinikon Mall project in Greece is nearing the selection of a contractor, with an estimated cost of €600-650 million excluding infrastructure, land acquisition, and financing. Lamda Malls will provide €275 million, and the remainder will be bank loans. The total cost for both Ellinikon Mall and Riviera Galleria exceeds €1 billion.
- What are the potential broader economic impacts of this large-scale development project in Greece?
- This significant investment reflects Greece's ongoing efforts to revitalize its economy through large-scale development projects. The €1 billion+ investment in two shopping malls signifies confidence in the Greek market and potential for future growth, but also raises questions about economic sustainability and equitable distribution of benefits.
- What are the potential risks and challenges associated with the Ellinikon Mall project, and how might they impact its long-term success?
- The project's success hinges on factors beyond financing, including timely completion, effective management, and consumer demand. Potential risks include cost overruns, delays, and changing market conditions which could impact the project's long-term viability and return on investment.