Lamda – Brook Lane Capital: Shareholders agreement signed for the development of a mixed-use tower

S.A. announced that a Shareholders Agreement was signed within the framework of the strategy with the Brook Lane Capital Group (the Framework Agreement – Framework Agreement, signed on 27.01.2022) for the development of a mixed-use tower (‘Mixed Use Tower’) within the Business Centre (‘Commercial Hub’) in the area of Vouliagmenis Avenue. On 28.3.2024 the signatures of the legal documents of the transaction between Lamda Development and the Brook Lane Capital Group, which determine the contractual relationship of the two parties and guarantee their formal cooperation with regard to that development, were completed. The special purpose company Ellinikon Park Tower S.A., which will take over the development of the Mixed Use Tower with an estimated total investment amount of nearly EUR 500 million, was established on 13.3.2024 and is controlled by 70% by a company of the Brook Lane Capital Group and 30% by Greeceikon Hospitality Investments S.M.S. A (100% subsidiary of the company). According to the original design, the development of Mixed Use Tower, about 150 m tall and about 40 stories, will include the following uses: 5 star hotel with luxurious leisure and wellness facilities, conference rooms and condos type rooms Branded apartments with seamless view to Metropolitan Park and the sea The management of the hotel and branded residences will be entrusted to an international renowned management company. The completion horizon for the construction of this development is within 2028.