Lamda gets 30 more years on lease for Mediterranean Cosmos

Lamda gets 30 more years on Mediterranean Cosmos lease

Lamda Development has signed a lease agreement giving it an additional 30 years on the land its Meditterean Cosmos shopping mall is built on in northern Greece, one of the company's key investments.

Lamda Devevlopment's subsidiary Pylaia signed the agreement with the land owner, the Ecumenical Patriarchate for use of the land until 2065, it said in a statement.

The positive effect of the agreement on the value of the shopping centre will be quantified by independent valuer and will be included in the results of the first semester 2018 that will be announced on 6.9.2018, it added.