Culture ministry denies reports charging it is placing bureaucratic obstacles to Helleniko project

15 September 2016
716 Views

Greece’s culture ministry on Wednesday afternoon engaged in “damage control” in the wake of several same-day press reports charging that the ministry’s leadership was attempting to insert a provision in a draft bill related to the major Helleniko real estate development project that adds more bureaucratic hurdles.

Reports stated that the culture ministry forwarded a provision mandating the relevant culture minister’s signature in presidential decrees approving the redevelopment plan for the Helleniko site, and well as related ministerial decision during the implementation phase.

A ministry press release responded that “the proposed provision, which is not submitted to Parliament, is independent from the draft bill on ratifying the contract for Helleniko, which was signed today by Culture Minister Aristidis Baltas…”

Earlier press reports this month cited opposition to the property redevelopment by a group of archaeologists, who claimed that antiquities could be located at the site, which served for decades at Athens’ airport, along with adjacent military bases.

A master plan for the landmark Helleniko real estate project, overseen by Athens-based Lamda Development for the main investment vehicle, Global Investment Group, foresees a 915-million-euro payment to the Greek state, paid in installments over the next 10 years.

The first payment, in fact, is a lump sum of 300 million euros for the purchase of 100 percent of the Helleniko S.A.’s shares – the state entity that manages the disused facilities of the old Athens airport — and a concession for 99 years.

Lamda Development will manage the project for the investment group, which is comprised of Chinese multinational Fosun, Abu Dhabi-based Eagle Hills and the Latsis group, which controls a majority of Lamda.

The master planner for the project is Foster+Partners.

Based on the investment plan, the concessionaire is obliged to make investments of 4.6 billion euros over a 15-year period.

You may be interested

Mitsotakis: Vaccination for those over 30 starts on Holy Week
GREECE
shares27 views
GREECE
shares27 views

Mitsotakis: Vaccination for those over 30 starts on Holy Week

makis - Apr 21, 2021

The Prime Minister Kyriakos Mitsotakis announced in his message on Wednesday afternoon the expansion of the vaccination program to the…

Microsoft to create 3D chatbots from dead people!
WORLD
shares88 views
WORLD
shares88 views

Microsoft to create 3D chatbots from dead people!

Panos - Apr 21, 2021

Microsoft has filed a patent that would allow the company to digitally revive deceased loved ones as chatbots, using the…

Yes, you may be reading the wrong horoscope & No, it isn’t NASA’s fault your zodiac sign changed
GREECE
shares28 views
GREECE
shares28 views

Yes, you may be reading the wrong horoscope & No, it isn’t NASA’s fault your zodiac sign changed

Panos - Apr 21, 2021

There are actually 13 signs of the zodiac, and the Earth’s axis has shifted since the Babylonians codified the horoscope…

Leave a Comment

Your email address will not be published.