FOURLIS S A : Strategic cooperation agreement between FOURLIS HOLDINGS and LAMDA Development for the development of a Retail Park in the Hellinikon
June 22, 2021 at 11:07 am EDT
Share
Announcement in relation to Business Developments
Strategic cooperation agreement between FOURLIS HOLDINGS and LAMDA Development
for the development of a Retail Park in the Hellinikon
FOURLIS HOLDINGS S.A. (hereinafter "FOURLIS") announces, in accordance with the Regulation 596/2014/EU and the ATHEX Exchange Regulation, each as applicable, that, it has signed a strategic cooperation agreement with LAMDA DEVELOPMENT S.A. for the implementation of a unique Retail Park (hereinafter the "Retail Park") which will be consisted by Big Box unit tenancies ("Big Boxes").
The Retail Park is going to be developed inside the cutting-edge new generation, shopping mall within the Hellenikon that LAMDA is going to develop, located adjacent to the Vouliagmenis Avenue, which is going to be completed during the first five-year phase of the landmark Hellinikon project.
The total investment for the development of the Retail Park will be €55 million.
The cooperation between the Parties, as stipulated in the Memorandum of Understanding, entails the segmented property acquisition by FOURLIS and the equivalent co-ownership percentage for a section of the plot upon which the Mall will be developed, with the aim to design and develop a 30,000 sqm Retail Park.
The development of the Retail Park will be made by TRADE ESTATES REIC, the new under- formation subsidiary company of FOURLIS.
Fourlis SA published this content on 22 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 June 2021 15:06:03 UTC.
Fourlis SA is a Greece-based investment holding company. Along with its subsidiaries, the Company is active in two operating segments: Retail Trading of Home Furniture and Household Goods, through the franchise of IKEA stores in Greece, Cyprus and Bulgaria; Retail Trading of Sporting Goods, through the franchise of INTERSPORT stores in Greece, Cyprus, Bulgaria, Turkey and Romania and THE ATHLETEâS FOOT stores in Greece and Turkey. The Companyâs direct subsidiaries include HOUSEMARKET SA, HM HOUSEMARKET CYPRUS LIMITED, HOUSE MARKET BULGARIA EAD, TRADE LOGISTICS SA, Intersport Athletics SA, Intersport Athletics Cyprus Limited, Genco Trade SRL (Romania), Genco Bulgaria EOOD and Intersport Atletik in Turkey.
FOURLIS HOLDINGS S.A. 
