Memorandum of cooperation between LAMDA, CGS and PRODEA Investments for the development of a school in Elliniko
Lamda Development SA, through its subsidiary ELLINIKO MAE. (“LAMDA”), PRODEA Investments (“PRODEA”) and Costeas-Geitonas School (“CGS”) announce the conclusion of a Memorandum of Understanding (MoU) with the aim of establishing a modern primary and secondary education organization in Greek (“CGS Ellinikon “).
This collaboration arose in the context of a competitive process conducted by LAMDA for the development of a school in Elliniko. The Memorandum of Cooperation provides for the long-term lease of a plot of land to PRODEA, which will develop the school facilities which it will lease to CGS. The final binding agreement between the parties is expected to be completed by the end of the year.
CGS Ellinikon will be an educational and architectural landmark, utilizing the history, values and know-how of CGS and enriching the curricula by choosing between a national and internationally certified curriculum, and Greek or English as the language of instruction.
The conclusion of the Memorandum of Understanding is a proof of the attraction of recognized and successful companies in their industry (‘best in class’) and is part of LAMDA Development’s strategy to create a world-class urban ecosystem that will provide high quality education services.
At the same time, PRODEA, taking advantage of its experience and know-how in the field of real estate, implements emblematic investments through strategic cooperation with the leading organizations in the industry which will have a long-term positive imprint in the wider society that is part of. This is the first participation of PRODEA in the “new era of the Greek”.
CGS CEO Christos Geitonas stated: “The school of the future is becoming a reality not only because its architectural design will be in full harmony with its educational philosophy, but also because a school in the heart of Elliniko will create synergies in cultural, sports and social level unprecedented for the Greek data “.
The CEO of PRODEA Mr. Aristotelis Karytinos stated: “We start our presence in the big project of Elliniko, with an emblematic project, of high symbolism: the creation of a school with innovative design, thus giving the stigma of the development concept of PRODEA. for an investment in knowledge and tomorrow, guided by sustainability, in the context of the overall strategy of PRODEA investments “.
The CEO of LAMDA Development Mr. Odysseas Athanassiou stated: “We are very pleased to welcome CGS Ellinikon to Elliniko. A school of the future that will be created in the city of the future.”.
CGS Ellinikon is expected to welcome its first students in September 2026.
CGS, founded in 1973, currently hosts 1900 students and 600 employees on a campus of 67,000 sq.m. in Pallini, offering the programs of the International Baccalaureate Organization (IB) for students from 3 to 18 years old in combination with the national curriculum. CGS is distinguished for its educational innovation, extroversion and wide network of international collaborations with distinguished academic institutions.
PRODEA Investments is the largest real estate investment company in Greece, listed on the Athens Stock Exchange, with assets of 2.8 billion euros. Its portfolio consists of more than 370 properties, while the ongoing or ongoing projects of the company exceed € 750 million, 81% of which relate to sustainable buildings. It has a high quality and performance, diversified portfolio with high occupancy levels, long-term leases and a strong rent base.
Lamda Development, listed on the Main Market of the Athens Stock Exchange, is a holding company and is active in the development, investment and management of real estate. The company plays a leading role in the sector of large shopping and entertainment centers in Greece and has successfully diversified into office and residential developments. The developments of Lamda Development include three shopping and entertainment centers (The Mall Athens and Golden Hall in Athens and Mediterranean Cosmos in Thessaloniki) with available space for use of 157,000 sq.m., office complexes, residential complexes, and the Marinas of Floisvos and Agios Kosmas . Lamda Development has undertaken the complete metropolitan renovation of the area of the former airport of “Elliniko”, which will be the largest private investment in Greece and the largest urban regeneration project in Europe. The majority stake in the company is held by the Latsis Group.