LAMDA Development S.A. hereby announced that on the 28th of August the Company accepted a binding offer letter from ION Group, a financial services technology company, for the acquisition of land for the development within The Ellinikon Project of a Global R&D and Innovation Campus co-locating around 2,000 professionals from 44 countries.
The Campus, which will be developed by ION Group, will be across two distinct neighborhoods and cover a total maximum allowed buildable area of approximately 250k sqm, will comprise of at least 50k sqm of office and collaboration spaces, a 1,000-seat auditorium designed for global events and up to 200k sqm of residential developments to accommodate ION Group’s professionals.
The total transaction consideration receivable by LAMDA Development is €450 million. ION Group’s investment related to the R&D and Innovation Campus is expected to exceed €1.5 billion by the time it is completed, which is expected to be in 2030.
In addition, ION Group will purchase treasury shares representing a 2% equity stake in the Company, reflecting ION Group’s confidence in The Ellinikon.
This strategic partnership launches The Ellinikon Business District, the final component of project’s masterplan while positioning The Ellinikon as a European hub for AI and digitalization.
The transaction is subject to the completion of legal, technical, financial due diligence, expected to be completed within Q4 2025, and the finalization and execution of contractual documentation.
About ION Group
ION provides mission-critical software, data, and services to leading financial institutions, central banks, governments and global corporations to automate their critical workflows, enhance their decision making and manage liquidity and risks.
