TAIPED and REDS sign deal on Gournes

TAIPED and REDS sign deal on Gournes

The Hellenic Republic Asset Development Fund (TAIPED) on Wednesday signed the official contract for the sale of the former US base at Gournes in Iraklio on Crete with REDS SA.

The company was the highest bidder in an e-auction with an improved offer of 42,237,679 euros, up 77.8% from the starting price of €22.6 million.

The property in Gournes is a seaside area of 345,567 square meters located 13 kilometers from the airport and 16 km from the city of Iraklio.

Under the terms of the contract, REDS is expected to implement investments such as a luxury hotel, a housing complex, a shopping mall and a casino, worth more than €210 million.

The signing ceremony was attended by Finance Minister Christos Staikouras and Development and Investment Minister Adonis Georgiadis.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.