Greece gets 1 bid for former Athens airport site

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Associated Press

Posted on February 27, 2014 at 2:03 PM

Updated Thursday, Feb 27 at 3:04 PM

ATHENS, Greece (AP) — Greece says it has received a single binding bid for the former Athens airport, a prime seaside property and key part of the recession-mired country's limping privatization drive.

The HRADF privatization agency said that processing Thursday's offer from Greece's Lamda Development will take about two weeks.

The company said its bid is supported by Abu Dhabi's Al Maabar and China's Fosun Group.

A Lamda Development statement said the total investment would be worth more than 7 billion euros ($9.56 billion) and would create tens of thousands of jobs.

It said its project included creating residential, recreation, sporting and cultural facilities at the 620-hectare (1530-acre) former airport, which would include 200 hectares (495 acres) of park.

Past governments had pledged to turn the site into a huge park, but did nothing.

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