Saturday December 20, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Elliniko development will have major impact on economy

In the long term, the privatization and development of the old international airport plot at Elliniko, southern Athens, is seen creating about 50,000 jobs and boosting the country’s gross domestic product by 1.5 percent, according to a report by the Foundation for Economic and Industrial Research (IOBE). State sell-off fund TAIPED is scheduled to open Lamda Development’s bid for the project on Wednesday.

The report drafted upon TAIPED’s request showed that the Elliniko project will create 35,000 jobs during the realization of its development plan in the period from 2014 to 2025. In contrast, if the investment does not materialize, some 14,500 jobs will be lost through the fiscal adjustment measures that will be taken in 2014 and 2015 to offset the fiscal loss resulting from the concession’s failure.

The project concerning what is considered to be the most important property for development in the Mediterranean will lead to a 1.2 percent increase in Greece’s GDP as a result of growing investment demand and private consumption. The external balance will also benefit via the inflow of funds and incomes from abroad, while the concession of the plot after the completion of the tender will give prominence to Greece as a reliable and attractive investment destination.

The impact of the GDP growth will predictably be greater in the Attica region, while failing to concede the property for development would entail fiscal measures that would lead to the shrinking of GDP by 0.3 percent in the first couple of years, the report estimated. Therefore, IOBE concluded, “the concession not only has the practical cash objectives, but it will also have beneficial consequences on economic activity and employment.”

Tomorrow’s planned meeting of the TAIPED board will see the opening of Lamda Development’s offer for Elliniko. If the bid is not deemed satisfactory for the selling party, then the TAIPED board will ask the candidate buyer to improve its offer. It will grant the sole interested investor a 10-day period to raise its bid.

Reports have mentioned a bid amounting to 600 million euros that would not satisfy TAIPED, but all signs point to the two sides being able to find a way to complete the concession for the Elliniko plot.

ekathimerini.com , Monday March 17, 2014 (22:55)  
Workers rush to get early retirement
Piraeus Containter Terminal goes from strength to strength
Moscovici: Creditor inspections to become less frequent and ‘lighter’
Property capital gains tax halt
Tsipras admits there could be hard days ahead
SYRIZA leader Alexis Tsipras said on Friday that he is determined to implement his party’s economic program if it comes to power but admitted that it would experience a challenging period. “...
Public medical centers keeping up despite shortages
Despite having just 1,050 doctors, medical centers belonging to Greece’s public health system (PEDY) saw more than 200,000 regular and emergency patients, made over 3,500 house calls and iss...
Inside News
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
SOCCER
Abidal cuts short playing career at Olympiakos
Former France and Barcelona defender Eric Abidal announced his retirement from football on Friday, a day before his last match. Abidal said he will finish after playing for Olympiakos agains...
Inside Sports
COMMENTARY
New weapons of diplomacy
Hollywood screenwriters couldn’t make it up: That Sony, one of the world’s biggest film producers, would be forced to pull a comedy about the assassination of North Korea’s dictator after a ...
EDITORIAL
Oblivious to change
The world around us is undergoing many important changes while we sit around stewing in our own juices. US President Barack Obama is actually talking with Cuba’s Raul Castro, for example, bu...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Explosive Barca unfazed by Panathinaikos, bomb scare
2. Tsipras admits there could be hard days ahead
3. Public medical centers keeping up despite shortages
4. Workers rush to get early retirement
5. Piraeus Containter Terminal goes from strength to strength
6. Moscovici: Creditor inspections to become less frequent and ‘lighter’
more news
Today
This Week
1. Ship with 200 migrants off Pylos towed to Italy after passengers refuse to stop in Greece
2. Independent Greeks MP Haikalis claims attempted bribery for presidential vote
3. Independent Greeks leader backs MP's bribery claims, threatens to release video [Update]
4. Greek PM Samaras confronts peril putting his Greek transformation to vote
5. Former premier Mitsotakis to meet President Papoulias to discuss political upheaval
6. Gov't spokeswoman says bribery claims 'badly-played charade,' heralds legal action if evidence not produced
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. Europe's drama in Greece needs final act to avoid tragedy
6. High stakes
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.