Investments New Agreement for Sale of Astir Palace Signed by GTP editing team 3 January 2016 written by GTP editing team 3 January 2016 0 comments Share 0FacebookTwitterLinkedinWhatsappEmail 12 The new agreement for the concession of the Astir Palace Resort has been signed by main stakeholder National Bank, Greek state privatization fund TAIPED and the preferred bidder, Jermyn Street Real Estate Fund. According to an announcement on Sunday by TAIPED, the agreement, signed on December 31, 2015, paves the way for the submission of an amended and “milder” Special Zoning and Spatial Plan. Jermyn Street Real Estate had submitted the highest bid at 400 million euros for a 90 percent stake in Astir Palace in February 2014. The transaction for the sale of the historic coastal resort had been on the back-burner after the Council of State rejected terms of the deal in March of that year that foresaw among others the construction of up to 100 luxury villas on a section of the peninsula. The new agreement ensures that the Plan is adjusted to the Council of State’s amendments and provides for the same price of 400 million euros. The whole process is expected to be completed within the first half of 2016. The new agreement includes two 6-star hotels to replace the Arion and Westin units, 13 luxury villas and the upgrade of the marina. Astir Palace is located in the southern Athens suburb of Vouliagmeni. Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. Share 0 FacebookTwitterLinkedinWhatsappEmail GTP editing team This is the team byline for GTP. The copyrights for these articles are owned by GTP. They may not be redistributed without the permission of the owner. previous post Greece’s Museums, Archaeological Sites Back to Normal on Weekends next post Rich Chinese Cash in on Crisis, Buy Art, Vineyards, Property You may also like Greece’s Hotel Market Sees Major Investments Over Four Months 5 February 2025 Greek Tourism Ministry Monitors Santorini Situation as Seismic Activity Continues 5 February 2025 Global Air Passenger Demand Reaches Record High in 2024, IATA Reports 5 February 2025 Greek PM Reassures Public About Santorini’s Ongoing Seismic Activity 5 February 2025 Milos: Ministry Suspends 5-star Hotel Construction Near Sarakiniko Beach 5 February 2025 ELIME and HELMEPA Join Forces for Safer, More Sustainable Greek Ports 5 February 2025 Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ
