Lamda Development had sold or reserved 615 of the 750 homes released for sale at Little Athens, the residential area under way at The Ellinikon on the Athens coast, by 30 September 2026. That is 82%. The company said on 4 November that delivering the homes in 2027 is its priority.
The figures are in Lamda’s results for the first nine months of 2026. Revenue from residential development at The Ellinikon reached €272.2 million, up 27% from €215.1 million a year earlier. Cash from property sales and leases at The Ellinikon has passed €1.85 billion since the project started.
The company had €455 million in project cash at 30 September, down from €567 million at the end of 2025. It has used no bank loans for the project, and a €232 million credit line with Greek banks remains undrawn. Capital spending reached €415 million in the nine months, bringing spending on buildings and infrastructure since the start to €1,405 million.
In July 2026 Lamda signed agreements to sell two plots for residential developments for €41.5 million, at an average of €2,650 per square metre of buildable area. That is a land price, not the price of a finished home.
On the retail side, the Riviera Galleria is expected to be completed within the first quarter of 2027. Foundation works for The Ellinikon Mall began in June 2026; the release gives no opening date. The group reported a net loss of €60.2 million for the nine months, against a profit of €116.2 million a year earlier.
What it means for buyers
For buyers abroad who have reserved a Little Athens apartment, 2027 is the company’s stated delivery target. At the end of September, 135 of the released homes were neither sold nor reserved. Of the two retail projects in the release, the Riviera Galleria is further along than The Ellinikon Mall. Our earlier report covers the planned lower-priced second phase. The release gives no separate sales figures for the Riviera Tower or the seafront homes, and no handover dates by building.
