EnglishGreece"s Lamda Development has acquires through its Romanian subsidiary approximately 10,000 square meters of land in the northern area of Bucharest, where the company plans to develop a residential compound. The investment amounts to 18 million EUR, according to a company announcement. Lamda paid 4.7 million EUR for the land. The residential complex will have a total surface area of 15,000 square meters.
Lamda Development is present on the Romanian market since 2003. The company"s portfolio includes Lakeview Condominium, a residential compound located in Bucharest, which consists of 100 apartments. The investment stood at 20 million UDS.
The company has also acquired 90% in Cyprus-based company Robies Services, which is currently building a logistics center in western Bucharest. The transaction amounted to 2.6 million EUR and the project is valued at 23 million EUR.
Lamda Development is also developing an office building in the Capital, the bult surface totaling 6,700 square meters. The building will be finalized by year-end. The company is listed on the Athens Stock Exchange and specializes in real estate investments, development and management.
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