Press Release Jun 28, 2023

Jacobs and Mace JV to Deliver Greece's First Green Urban Infrastructure Program

The Ellinikon Development combines new benchmarks for sustainability and quality of life

DALLAS, June 28, 2023 /PRNewswire/ -- The joint venture of Mace and Jacobs (NYSE:J), appointed by Hellinikon S.M.S.A., a subsidiary of LAMDA Development S.A., is Program Management Consultant for the Ellinikon development and has Project Management responsibilities for the four primary building projects within the scheme – Riviera Tower, Vouliagmenis Mall Complex, Riviera Galleria and the Mixed Use Tower.

The Ellinikon program is the largest urban infrastructure development investment in Europe, and the largest urban regeneration investment ever in Greece. The regeneration of the former Athens airport and the neighboring coastal front, Ellinikon, includes one of the first green architectural landmarks in Greece.

The Riviera Tower, planned by LAMDA Development to be complete in 2026, will stand at more than 200 meters above sea level. Constructed to LEED (Leadership in Energy and Environmental Design) Gold standard using environmentally friendly materials, the building, which will be the tallest in Greece, incorporates green features including a full height green wall, natural light and unobstructed sea views.

The Mace and Jacobs JV will also project manage the 160-meter-tall "Mixed Use Tower" which consists of office, hotel and residential space and the Riviera Galleria which will provide a new high-end retail, hospitality and entertainment hub.

"It is a privilege to be involved in the construction of the iconic Ellinikon development, including what is set to be the first high-rise green tower in all of Greece and the country's largest shopping mall," said Mace Consult Managing Director for Property U.K. and Europe Daniel Easthope"Our appointment to this project is a great example of how construction expertise can be exported to help other nations to meet their infrastructure demands.''

"This latest project progress reinforces that the most significant sustainable impact of The Ellinikon development will be its legacy – creating green, integrated places and spaces that support communities, business and tourism," said Jacobs People & Places Solutions Senior Vice President Europe Kate Kenny. "Integrating global regeneration program experience with local knowledge, together we are applying sustainable and smart principles throughout the project to help bring that vision to life."

LAMDA Development CEO Odisseas Athanasiou said: "The synergy of two well-known international Project Management Consultants, Mace and Jacobs, speaks volumes on how significant the Ellinikon Project is worldwide and ensures that their consolidated knowhow and expertise will be transferred to our overall program and our four landmark projects in Phase I, while advancing our vision. At the same time, the Greek construction industry will benefit with state-of-the-art practices and methods." 

Announced as overall Program Management Consultant in February 2022, together Mace and Jacobs draw on decades of international experience in the management of large-scale programs and projects of significant economic value and complexity. As joint venture partners, the two firms will leverage their joint capability on the delivery of major legacy programs, such as the London 2012 Olympics and Paralympic Games and Expo 2020 Dubai, in addition to bringing economic and social benefits and transformation for local communities through jobs creation.

Jacobs brings extensive project and program management consultancy experience from major programs around the world, including a feasibility study for Rikers Island in the U.S., The Elizabeth line in the U.K. and the FIFA World Cup Qatar 2022TM, as well as city transformation programs such as the Edinburgh City Centre Transformation and Aurangabad Industrial City in India.

Mace will contribute with its extensive track record from mega developments including One Za'abeel and The Opera District in the UAE, alongside other major global infrastructure, and legacy developments such as the infrastructure reconstruction program in Peru and HS2 London Euston Station in the U.K.

Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify forward-looking statements. We base these forward-looking statements on management's current estimates and expectations, as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements including, but not limited to, the timing of the award of projects and funding and potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the possibility of a recession or economic downturn, geopolitical events and conflicts, and the impact of the COVID-19 pandemic, including the related reaction of governments on global and regional market conditions, among others. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recently filed Annual Report on Form 10-K, and  Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Item 1 - Legal Proceedings; and Item 1A - Risk Factors in our most recently filed Quarterly Report on Form 10-Q, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

About Jacobs

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $15 billion in annual revenue and a talent force of more than 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit and connect with Jacobs on FacebookInstagramLinkedIn and Twitter.

About Mace

Mace is a global company of experts in shaping the built environment. It provides development, consulting, construction and operations services for many of the world's most inspiring building and infrastructure projects and programs – from Olympic parks and iconic skyscrapers to state-of-the-art data centers, schools, hospitals and homes.

The privately-owned company, headquartered in London, U.K., has an annual turnover of £1.9bn. Over 30 years, its growth has been fueled by an adventurous spirit and the relentless pursuit of a better way. Today, the company employs over 7,000 people across five global hubs in Europe, Middle East and North Africa, the Americas, Sub Saharan Africa and Asia Pacific.

Mace is driven by its purpose to redefine the boundaries of ambition, and its vision of leading the way to a more connected, resilient and sustainable world. 

About LAMDA Development

LAMDA Development (Greece), listed on the Main Market of the Athens Exchange (ATHEX), is a holding company specializing in the development, investment and management of real estate. LAMDA Development Group retains a leading position in the large shopping and entertainment sector in Greece, with investments as well in residential and office space developments primarily in Greece and in Southeastern European countries. The Group investment portfolio includes four shopping and entertainment centers (The Mall Athens, Golden Hall and Designer Outlet Athens in Athens, and Mediterranean Cosmos in Thessaloniki), office buildings, residential complexes as well as the Marinas in Flisvos and The Ellinikon. LAMDA Development has undertaken the complete urban regeneration of the Ellinikon-Aghios Kosmas Metropolitan Pole (including the area of the former "Ellinikon" airport and the coastal front), which will be the largest private investment in Greece and one the largest urban regeneration projects in Europe. The budget of the estimated investment for the project is €8 billion. The majority stake in the company is held by the Latsis Group.

For press/media inquiries:

Kerrie Sparks

Mace Media Line


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