Malls prove a gold mine for Lamda Development

TAGS: Business

The operating profits of Lamda Development’s three shopping centers (namely The Mall Athens, Mediterranean Cosmos and Golden Hall), which rose by 8 percent in the first half of the year compared to 2015, helped Lamda turn its own losses into gains during the same period.

The biggest rise in operating profits was seen at Golden Hall (pictured), amounting to 11.3 percent in the first half.

Lamda saw its losses of 14.3 million euros in H1 of 2015 swing to earnings of 1.5 million this year, also assisted by the drop in losses from the group’s investment property valuations.