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Controversy about the privatisation of Astir Vouliagmeni

30 November 2013 / 15:11:04  GRReporter
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Tensions dominated yesterday's meeting of the Regional Council of Attica in terms of the approval of the Study of the environmental impact on Astir Vouliagmeni.

This morning, Prefecture Governor of Attica Yiannis Sgouros said on Mega TV, that the behaviour of SYRIZA MPs was unacceptable. According to him, he was verbally attacked by MP Dimitris Tsoukalas who was defiant and in this way encouraged those who triggered the conflict. According to Sgouros, the meeting was attended by "competent, in all matters, citizens who immediately started shouting at regional representatives" and this eventually led to a collision.

The Prefecture Governor also claimed that SYRIZA MP Stathis Panagoulis pushed one of the regional representatives and, according to him, it was inappropriate for a deputy to behave this way. Sgouros said that they would appeal to justice.

According to the Prefecture Governor, the tension was caused by disagreement with the decision, which the District Council had to take about Astir. "There are three complexes in Astir Vouliagmeni; one of them is not working and they want us to destroy it and build homes there and reduce the built environment, with all studies of the environmental impact," said Sgouros. According to him, the problem results from the fact that there have been only two points of view in this country for a long time - black and white.

Eventually the tension abated and the study was voted by PASOK and New Democracy counsellors. According to the Athens News Agency, the last time when the Council was convened in order to vote on the study, the vote had been postponed because New Democracy counsellors had declared themselves "against". Harris Damaskos said that the study comes in conflict with the provisions for the protection of the area and said that remarks from the District Services of Attica would change its character. Therefore, the study should be withdrawn and carried out again. For this reason, Sgouros postponed the meeting, taking into account that in was not desirable that only his counsellors should vote the study.

Picture: To Vima

It is noted that 4 binding offers had been submitted for Astir by the completion of the second phase of the tender for the sale of the majority stake of the Astir Palace Vouliagmeni on Wednesday, 26 November. Binding bids have been submitted by:

1) Plepi Holdings, which involves Ahileas Konstandakopoulos’s THEMES and Olayan Group

2) JERMYN STREET REAL ESTATE FUND IV LP, a fund that manages AGC JERMYN STREET IV and is supported by six investors, including Dogus


4) A joint venture between COLONY CAPITAL ACQUISITIONS LLC and DOLPHIN CAPITAL INVESTORS LTD of Miltos Kambouridis

Olayan Investments Company Establishment - THEMES: Olayan Group is a global group, involving a minority stake in the company THEMES of Greek businessman Ahileas Konstandakopoulous, owner of "Costa Navarino" in Messinia. Olayan is a well-known investor worldwide, with strategic interests in a lot of companies, such as Coca-Cola and banks Credit Suisse and Morgan Stanley. It is also a major investor in Chipita, as well as in many Greek companies in the past.

AGC: this is an investment fund in the Middle East, based in London, which invests around the world and has participated in the share capital of private hedge funds and investment real estate companies in Europe and North America. It also participates in investment projects that affect the real estate market. Capitals come mainly from Abu Dhabi, Kuwait and Saudi Arabia. Dogus Holding is one of Turkey's major holdings, participating in the banking, construction and tourism sectors. Dogus controls an 18% share of the marinas in Turkey and six marinas in Croatia. In 2012, it established a joint venture with Lamda Development of the Latsis Group for investment in Greece, including the Marina of Flisvos.

Lamda Erga Anaptyxis S.A.: Its portfolio includes three shopping and entertainment centres (The Mall and Golden Hall in Athens and Mediterranean Cosmos in Thessaloniki), 2 building complexes in Greece and Romania with a total area of 105,000 square metres and 6 complexes with offices with a total area of 70,000 square metres.

Colony Capital - Dolphin Capital: Colony Capital is an American company with global presence and infrastructure in 9 countries with strong investor portfolio. Dolphin Capital Kamburidis takes part with a minority share in the partnership with which the company participates in the competition. Colony has invested in various projects, including Atlantic City Hilton, Las Vegas Hilton, Raffles Hotels & Resorts, Fairmont Hotels and Resorts, Swisshotel and One & Only Hotels & Resorts. It owns one of the most popular Mediterranean resorts - Costa Smeralda in Sardinia. After its renovation, the company sold it to Qatari state investment capitals.

At its next meeting, the Management Board of the Agency for Public Private Property will decide, together with the National Bank of Greece, on offers of applicants, following the introduction of financial and legal councillors of the two sides and the opening of financial bids.

Tags: privatisation Astir Vouliagmeni conflict district council investors
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