A long-term lease agreement with an initial term of 30 years was signed between Hellenic, an indirect subsidiary of Lamda Development, and Kostea-Geitona Schools (CGS) for the development of a modern primary and secondary education institution in Ellinikon. The contract can be extended for a further 30 years.

The opening of CGS at The Ellinikon is expected in September 2027.

The company's announcement is detailed:

Lamda Development in accordance with Regulation 596/2014/EU and the Athens Exchange Regulation, each as applicable, following the 30.06. 2022 relevant Announcement for the drafting of a Memorandum of Understanding, informs that the Long Term Lease Agreement, with an initial term of 30 years with the possibility of extension for additional 30 years, between the indirect 100% subsidiary HELLENIC M. S.A. and the company CGS (Costeas-Geitonas School "CGS"), according to which CGS will undertake the development and operation of a modern educational institution of primary and secondary education ("CGS at The Ellinikon") in the Urban Development area A-P4 within the Metropolitan City of Ellinikon - Agios Kosmas.

CGS at The Ellinikon will be a modern model school that will offer National and International Accredited Curriculum, while building on the history, values, expertise and pioneering educational philosophy of CGS.

CGS at the Ellinikon will be a landmark of educational and architectural innovation on the national and European map. Its state-of-the-art facilities will harmonize with the principles of the new city at The Ellinikon, the smartest and greenest city in Europe.

The rent for the long-term lease will be determined annually based on the Business Cycle achieved in each calendar year.

The CGS at The Ellinikon is expected to open in September 2027.