Lamda Development has until March 26 to submit an improved bid to renovate the disused site of Ellinikon Airport after authorities rejected the Greek company’s initial bid Wednesday.
In a second phase, financial consultants Citigroup and Piraeus Bank will work with Happold Consulting as adviser of Hellenic Republic Assets Development Fund (TAIPED) to derive a “fairness opinion” for the site once Lamda submits its improved final and binding financial offer next week. The proposal will be evaluated according to internationally accepted procedures and standards.
The TAIPED board will then evaluate their consultants’ findings and those of its Council of Experts, and will meet to decide upon the preferred investor for what is one of Greece’s biggest redevelopment projects. The process is expected to be completed by the end of March.
The proposal submitted by the Greek company features marinas, waterfront skyscrapers, conference centers, a kilometer-long beach and 200 hectares of green space to provide recreational space for local residents and all Athenians.
An artist’s impression presented last week to TAIPED revealed a vision of the Greek capital as its citizens have never seen it. Think Dubai, with an Acropolis… but it’s what TAIPED thinks that counts.
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