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HRADF: International tender for the former U.S. military base of Gournes property

The Hellenic Republic Asset Development Fund S.A. (HRADF) launches an international highest bidder tender process for exploiting part of the former U.S. military base of Gournes in Heraklion, Crete.

The real estate property consists of a beachfront land plot of 345,567 sqm located 13km from the airport “Nikos Kazantzakis” and 16 km from Heraklion.

In neighbouring land plots to the property have been developed the Hellenic Centre for Marine Research, the Cretaquarium Thalassocosmos, the International Exhibition and Conference Centre of Crete etc.

The Special Plan for the Spatial Development of Public Properties (ESCHADA) approval is imminent for the property, which will provide for the general land uses "Theme Parks - Shopping Centers - Leisure" and "Tourism - Leisure".

The tender process will be conducted in one phase through a Request for Proposal (RfP). Interested parties that wish to participate in the tender must submit their proposals until July 15, 2021, in accordance with the terms and conditions of the request for proposal, which is available on the Fund’s website.

The Fund will establish a société anonyme to which it will contribute ownership over the real estate property. Subject to the prior approval of the ESCHADA for the real estate property, the Fund will transfer its entire share capital to the highest bidder.

HRADF has appointed “Eurobank Ergasias S.A.” and “Cerved Property Services Single Member S.A.” as financial advisor, “Potamitis Vekris Law Firm” as legal advisor and “Decathlon S.A.” and “Cerved Property Services Single Member S.A.” as technical advisor.

Finally, the Board of Directors of the Fund declared the tender for the former workplaces of the project Rio - Antirrio connection property, fruitless. The binding offer submitted was below the property’s valuation.