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Hellinikon Project: Preparations for the Casino in the finishing line – Works to begin in early 2020



According to the Minister of Development and Investments, Mr. Adonis Georgiadis, the highest bidder for the Casino in Hellinikon will be announced in early December.

It will be the largest independent investment, within Hellinikon, budgeted at 1bn euros, and will be the most prominent and significant also from a construction and touristic perspective.

Mr. Georgiadis, speaking yesterday on SKAI TV, said that his initial wish was for the bidder to be announced in November. “Finally, this was not possible, there will be a slight delay, hopefully until early December. Within 2019 we want all of the pending issues from our side to be sorted so that the company can proceed with the project by the beginning of 2020. We are in the finishing line”, he said.

The intention to keep the agreed-upon plan with the Gov’t and the works on the colossal project to start was recently expressed by Lamda Development CEO, Odysseus Athanasiou, who commented that: “We are following the developments and not listen to rumors but just official announcements”.

As he said, “We are preparing to start the project as we have planned”. According to announcements made in October, the first phase of the 5-year project will require about 2bn euros. In addition, growth and lending funds, around 400m euros, will be secured by the sales of residences and 150m from the issue of corporate bonds. The latter will also be used for refinancing loans.

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