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Lamda Development has accepted a EUR 41.5 million offer from Nellenco for two residential land plots in the A-U2 urban development area, with a total maximum buildable area of 15,700 square meters. The transaction is part of Lamda's strategy to optimize its land holdings and reflects growing investor interest in this high-potential zone. Historical sales in the area indicate rising land values, and the deal may serve as a reference point for future transactions. The move also supports Lamda's ongoing funding and portfolio management plans.
Lamda Development SA has accepted an offer of EUR 41.5 million from Nellenco for the sale of two residential land plots located in the urban development zone A-U2. The combined plots have a maximum permitted buildable area of 15,700 square meters. The agreement reflects Lamda Development's ongoing strategy to optimize its land portfolio in high-potential urban areas.
The A-U2 zone has been a focus for residential expansion in recent years, with multiple developers showing interest due to its planned infrastructure improvements and proximity to key city amenities. Past transactions in the area indicate that land prices have steadily increased, highlighting the strategic importance of these plots. Nellenco's offer aligns with current market valuations and demonstrates investor confidence in the urban development zone's long-term potential.
Lamda Development has previously completed several land sales in strategic locations to fund ongoing projects and strengthen its balance sheet. By selling these plots, the company continues to monetize high-value assets while supporting its broader development and investment plans. Analysts suggest that the deal could set a benchmark for similar transactions in the area, given the scale of the buildable area and the urban zone's development prospects.
Source Reuters
5th Jun, 2025
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