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Home arrow About Us arrow Embassy of Greece in London arrow News arrow Second phase of process for development of Hellinikon begins

Second phase of process for development of Hellinikon begins

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Τhe second phase of a process for the development of the former Hellinikon airport site began last week, with the Hellenic Republic Asset Development Fund issuing eligible investors who had signed the necessary non-disclosure agreement a request for proposal, which includes instructions on the content and submission of their proposal and an overview of Phase B.

The three bidders are Elbit Cochin Ltd, London & Regional Properties and Lamda Development. These eligible investors received information and access to the virtual data room, containing technical and legal data of the project in order to facilitate their due diligence process.

Beginning next week eligible investors will be offered the opportunity to visit the site and attend presentation meetings.The final submission of technical offers is expected to take place in July 2013.

In particular, eligible investors will be asked to submit their binding offers, along with their business plan for the development of the wider area. The basis for the offers must include the acquisition of 100% of the shares of Hellinikon S.A.The full development of the Hellinikon site is expected to enhance Greek GDP by 0.3% per year and to create over 10,000 new jobs on a yearly basis for the next decade.

SOURCE: ATHENS NEWS AGENCY

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