MoU signed with Lamda Development for the Elliniko investment

8 June 2016
237 Views

A new memorandum of understanding (MoU) has been signed between the Greek government and the Lamda Development investment venture for the Elliniko development on Tuesday.

The MoU includes many improvements on the original agreement, such as increasing the overall investment to 8 billion euros, completion of the investment in a shorter period of time and introducing a clause for to complete 80% of the investment within 12 years.

Aside from upgrading the beach and developing residential, recreational and hotel facilities in the areas, the investors will commit to financing and maintaining the metropolitan park on the site. An international tender for a casino license on site will be held at a alter date.

Following the signing of the agreement, the government expressed its satisfaction over the improved deal. Signing the MoU was one of the prior actions necessary for the completion of the bailout review.

You may be interested

Folegandros: Images of an undiscovered gem
GREECE
shares131 views
GREECE
shares131 views

Folegandros: Images of an undiscovered gem

Panos - May 22, 2018

Shining under the Aegean sun, Folégandros was named after the son of King Minos. This off-the-beaten-path destination captivates the visitors…

Recitals of Hadjidakis’ music will open the Delphi Festival
GREECE
shares14 views
GREECE
shares14 views

Recitals of Hadjidakis’ music will open the Delphi Festival

Panos - May 22, 2018

The first contemporary Delphi Festival will open in the town of the ancient world’s most famous oracle, in mainland Greece,…

French energy giant Total to expand natural gas search in Cyprus’ EEZ
GREECE
shares13 views
GREECE
shares13 views

French energy giant Total to expand natural gas search in Cyprus’ EEZ

Panos - May 22, 2018

French energy giant TOTAL applied to the Cyprus government to acquire a stake in block license 8 in the island’s…

Leave a Comment

Your email address will not be published.