Lamda Development announced its signed long-term lease agreement, initially for a duration of 30 years with the possibility of extension for an additional 30 years, between its indirect 100% subsidiary ELLINIKO MAE and the company COSTEAS – GEITONAS SCHOOLS SA (“CGS”). According to the agreement, CGS will undertake the development and operation of a modern educational institution for primary and secondary education (“CGS at The Ellinikon”) in the Urban Development Area A-P4 within the Elliniko – Agios Kosmas Metropolitan Pole.

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As stated in the announcement, CGS at The Ellinikon will be a modern model school offering National and International Accredited Study Programs, while simultaneously leveraging the history, values, expertise, and pioneering educational philosophy of CGS. It will serve as a landmark of educational and architectural innovation on both the domestic and European maps. Its state-of-the-art facilities will align with the principles of the new city of The Ellinikon, the smartest and greenest city in Europe.

The rental for the long-term lease will be determined annually based on the Business Cycle achieved in each calendar year. The opening of CGS at The Ellinikon is expected in September 2027.

Founded in 1973, CGS currently hosts 1,975 students and over 600 employees on a 67,000 sqm campus in Pallini, offering International Baccalaureate (IB) programs for students aged 3 to 18 in combination with the National Curriculum. CGS is distinguished for its educational innovation, international orientation, and extensive network of international partnerships with distinguished academic institutions.