LAMDA Development to invest about 240m EUR in real estates in Romania, Bulgaria and Montenegro, next destination – Croatia

(Investment in Vračar, in Belgrade)

ROMANIA

Greek “LAMDA“ is currently working on five projects in Romania whose total value is 120m EUR. One residential facility has already been completed, while the remaining four are in different stages of construction. As Zisimos Danilatos, International Development Director in “LAMDA Development“, explains, the Greek investors are building a total of 150,000 – 300,000 square meters of residential space, 7,000 square meters of office and 50,000 square meters of housing space. The logistic center Lamda is currently developing will be around 60,000 square meters GBA.

BULGARIA

“LAMDA“ is also active in Bulgaria where it has invested about 100m EUR in 3 projects (business building, apartment building and a trade center) at total surface of 100,000 square meters.

MONTENEGRO

- When it comes to a small market like Montenegro, a company should first test the market by introducing 10-20m EUR worth of small, pilot projects. That is what we are doing right now in Montenegro by building a small second home complex of 85 units accross the road from Sveti Stefan –Mr. Danilatos explains.

CROATIA AND TURKEY

- It is only a question of time when we will enter the Croatian and Turkish markets. Croatian market is complicated, that is, the procedures are complicated, but the negotiations are underway. We plan to invest between 50 and 100m EUR in resorts development in the coastal zone. As far as Turkey is concerned, we also plan to invest in this big and promising market.