Hellenic Republic Asset Development Fund (HRADF) on Wednesday signed the official contract for the sale of the former US base in Gournes, Heraclion 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 euros.
The property in Gournes is a seaside area of 345,567 sqm located 13 km from the airport and 16 km from the city of Heraclion. Under the terms of the contract, REDS is expected to implement investments such a luxury hotel, a house complex, a shopping mall and a casino, worth more than 210 million euros.
The signing ceremony was attended by Finance Minister Christos Staikouras and Development and Investments Minister Adonis Georgiadis.
SOURCE; ANA-MPA
