PRIVATIZATION

Crete’s answer to the Elliniko development project

Crete’s answer to the Elliniko development project

State asset utilization fund TAIPED on Wednesday took the first step toward the ambitious development of a tourism complex with commercial uses and a casino at the former US military base at Iraklio on Crete, announcing a tender for the concession of the 345,000-square meter plot.

The deadline for binding offers is July 15, and interest has already been expressed by construction companies as well as property development groups, foreign investment funds and Greek and Greek-American entrepreneurs who are active on the island.

That will be followed by a second tender for a casino permit at a later date.