BUSINESS

Jermyn Street wins Astir Palace tender

State privatization fund TAIPED on Thursday named Jermyn Street Real Estate Fund IV LP as the preferred bidder for the Astir Palace hotel company, just a few days after the other co-owner of the hotel firm, National Bank, also chose the same bidder.

TAIPED announced in a statement that the next stage for the realization of the investment proposal by the bidding company, majority-controlled by Arab funds, provides for the approval of the draft contract for the sale of the hotel unit in southern Attica by the State Audit Council and the issue of the Presidential Decree concerning land usage.

Thursday’s TAIPED board meeting also gave the green light to launch the process for the utilization of the Castello Bibelli property on the Ionian island of Corfu. It consists of seven buildings with a total surface area of 4,500 square meters in a plot of 86,000 sq.m.

The tender process for that project is scheduled to begin next week.

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