LAMDA Development in alignment with its strategy of developing Shopping Centers is announcing, that was selected as the preferred company by The Olympic Properties SA for the concession of the long term use - leasing of the main part of the International Broadcasting Center (IBC). The financial offer of LAMDA Development includes annual lease of the first rental year of Euro 7.250.00. The business plan refers to the development and operation of a modern shopping center with aprox. 40.000 sq of GLA, 1.400 underground parking spaces and offices of 4.500 sq. The estimated cost of the investment, including the capitalized cost will reach Euro60 million, while the construction period after the award of the necessary permits will reach 20 months. The stated concession period is 40 years which could be prolonged, following written agreement between the two parties for an extra 6 years. The concession contract will be signed within the following days. The investment will contribute to the profits and Net Asset Value of LAMDA Development group of companies.