Greece Accepts Lamda Bid to Develop Europe’s Largest Urban Plot
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Greece’s state asset sales fund accepted a revised offer from Lamda Development SA to develop Europe’s largest urban plot at the site of the former Athens airport, as the government struggles to catch up with its international creditors’ requirements to maintain the flow of funding.
The Hellenic Asset Development Fund accepted Lamda’s improved offer of 915 million euros ($1.2 billion) to develop the 6.2 million square-meter (620 hectare) former Athens airport site, an area almost twice the size of New York’s Central Park.