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Sat 12 May 2012 10:16 AM

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Qatari Diar shortlisted to buy Greek airport firm

Qatar real estate giant said to be one of four in frame to buy Greece's Hellenikon

Qatari Diar shortlisted to buy Greek airport firm
Qatari Diar

Qatari Diar Real Estate Investment Company is one of four groups chosen to participate in the second phase of the tender to buy Greece's Hellenikon, it has been reported.

The Hellenic Republic Asset Development Fund (HRADF) has also chosen UK-based London & Regional Properties, Israel’s Elbit Systems (ESLT) and Greece’s Lamda Development (LAMDA) in the shortlist, Athens-based newspaper Kathimerini said.

It chose four groups to participate in the second phase of the tender to buy Hellenikon, out of the original nine who had expressed an interest, Kathimerini said.

The four groups that will compete to buy Hellenikon, which will develop and exploit the site of the former Athens International Airport, the newspaper reported, without citing anyone.

The tender marks the latest step in the country's efforts to raise some 19bn euros from the sale of state assets by 2015.

Hellenikon, a company formed to manage the site, is seeking investors for the 6.2 million sq m site.

The site includes the area of the old airport, undeveloped land and a 3.5km-long waterfront. It is located in the greater Athens area, near the city centre, with direct access to the Greek Islands and a short flight from other destinations in Europe and the Middle East.

The four groups will be granted access to detailed information about the asset and the sale process and will be invited to submit binding financial offers, along with their business plans.

"This is currently the largest urban development project in Europe and it is strategically significant for Athens and Greece", Costas Mitropoulos, chief executive of the HRADF, said previously.

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