BUSINESS

Countdown to verdict on Elliniko development

By Nikos Roussanoglou

Within the next 10 days state privatization fund TAIPED will announce its decision on the tender for the development of the old airport at Elliniko, southern Athens.

Property market professionals comment that the verdict will have a strong political character given that this is a key sell-off project and the only binding offer has come from Latsis Group-controlled Lamda Development with the participation of Abu Dhabi-based company Al Maabar and Chinese firm Fosun.

The price is likely to be close to that agreed for the concession of the Astir Palace Hotel complex at Vouliagmeni – i.e. 400 million euros.

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