The Greek Deal.com
Ellinikon Project will add 2.5% to Greece's GDP | TheGreekDeal.com
Odysseas Athanasiou
Ellinikon Project will add 2.5% to Greece's GDP
Ellinikon Project to Add 2.5 PPS to Greek GDP, Says Lamda Development CEO.
Newsroom
TIME TO READ
1 min
Odysseas Athanasiou, CEO Lamda Development

The CEO of Lamda Development, Mr. Odysseas Athanasiou, gave an interview to Bloomberg, talking about the first phase of Elliniko and the benefits it will have for the country's economy. "This project is a symbol of a new Greece in which there is a boom in the real estate sector,"  he said.

Asked by a Bloomberg reporter about the economic benefits the project will have on the Greek economy, Athanasiou said that "based on independent research, we believe it will add about 2.5 points to GDP, create 7,000–8,000 new jobs, and bring in at least 1 million tourists over the next three years."

While continuing to note that "one reason for the boom is the huge imbalance between supply and demand,. The supply of new projects has decreased in the last three years, and demand has increased in the last two. Moreover, we have had a lot of awareness in the last three years because of the government." "In general, we are seeing a boom, which is numerically reflected in the fact that we have about €6 billion of foreign capital invested in real estate, mostly residential, in just the last three years compared to €1.5 billion in the decade between 2009 and 2020," he said.

 

READ ALSO