Lamda awaits Joint Ministerial Decisions for Hellinikon Project

With reference to questions raised in the General Assembly of Lamda Development, concerning Hellinikon Project, the company published a press release providing clarifications regarding the investment in Hellinikon area, Attica:

In regard to the issuance of the Joint Ministerial Decisions (JMDs) that are pending:

1. The company submitted all required studies for the issuance of the JMDs as of February 2019 (Ref n. HRADF: 39035/05.02.2019, 39202/18.02.2019 & 39206/18.02.2019).

2. Until present comments from the relevant administrative bodies are still pending

3. Furthermore the proper planning procedure through the pending JMDs entails the correction of the wrong Cadaster documents. Only then the land upon which the construction will happen will be precisely and safely determined. This procedure is also pending.

4. The company has committed to respond to all comments within 15 days of the completion of the above procedure

5. In accordance to these points, the issuance of the JMDs without first dealing with the above matters, will result to compromising the safe inauguration of the project and will effectively cause severe threats to the future of the investment

Regarding the Casino Tender that is still pending

6. On February 22, the State published the casino license tender. Up to now, the deadline for submitting bids has been extended three (3) times. The cause is that the issuance of the above-mentioned JMDs, which will determine what can be built, where and to what extent, is a prerequisite for the completion of the tender. These JMDs are still pending.

7. The company has sent the Site Agreement, concerning the casino development, to the Competent Authorities as of February 4, 2019.

8. The Company will not collect any consideration from the Casino License Tender. The money for granting the license will be collected by the State. Τhe casino investor will pay rent for the concession of the land, which will happen in the future, when the implementation of the project will have commenced.

The Company remains focused to its contractual commitments and to its objective – which has become a part of Greek society’s objective – that the investment of the Hellinikon will become a project for all Greeks.