ECONOMY

TAIPED asks two bidders to up offers for former US base

taiped-asks-two-bidders-to-up-offers-for-former-us-base

State asset utilization fund TAIPED said on Thursday it has asked two bidders to raise their financial offers for a sprawling former US military base on Crete.

Four investors bid last month to acquire the 85-acre plot in Gournes, outside the city of Iraklio, and turn it into a seaside tourist resort with an entertainment park.

TAIPED said that after shortlisting three of them it unsealed their financial offers.

In line with the tender’s rules, which stipulate that a bidder’s offer can fall short of the highest one within a certain range, TAIPED asked two bidders, Greek developers Dimand and REDS, to improve their offers separately via an online auction that is due on December 6, it said. [Reuters]