The fate of the Elliniko development project is likely to be decided today, as privatization fund TAIPED is rumored to decide on whether to accept Lamda Development’s improved offer for the project.
Lamda Development’s offer for the site of the former international airport of Athens is for 915 million euros. The joint venture have also committed to investing a further 1.25 billion euros on a metropolitan park and infrastructure over a decade.
It is estimated that the development of the 2,000-acre park would cost about 300 million euros, while 950 million euros would be invested in developing infrastructures.
The price does not include the 30% share of the Greek State from future profits.
