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alternative Assets News: Spanish Real Estate Intelligence

Hard Rock International to invest more than € 1 bn in Elliniko

Hard Rock International announced the company’s participation in the Greek Government’s RFP process to issue a license for an integrated resort and casino at the former Elliniko Airport site in the historic city of Athens, Greece. The announcement follows over a year and a half of work on the project and if awarded, construction for the project is estimated to take 24-26 months.

During a local press conference at the company’s Hard Rock Cafe in Athens, Chairman and CEO of Hard Rock International, Jim Allen shared the company’s vision for Elliniko. “We have always believed Athens to be of the world’s great gateway cities and Hard Rock International envisions creating a must see destination that will help draw from the over 120m annual guests across 74 countries, driving year-round tourism and being an economic driver for Greece.”

Radisson Hotel develops serviced flats in Cyprus

Radisson Hotel Group announced the signature of the deal for the first apartments in Larnaca, that will be called "Radisson Blu serviced Apartments Larnaca".

The project is part of the agreement with SunnySeeker Hotels and the Quality Group and consists of four projects and more than 550 rooms fully operational or under construction.

The new property will have 59 serviced apartments (studios, one and two bedroom flats). There will be a café on the ground floor, and a lounge bar on the top floor, while the facilities will include a fitness center, a spa with a swimming pool, and a 100m2 area for meetings and events.

The apartments are easily accessible to visitors as they are located only 7 kilometers away from the Larnaca International Airport.

Greece: HRADF starts selling process of AIA shares

The Hellenic Republic Asset Development Fund that promotes the implementation of privatizations in Greece, posted an invitation to submit an Expression of Interest for the acquisition of 30% of its shares in the company “Athens International Airport SA” (ΑΙΑ).

The bidding process will take place in two phases: pre-selection and bidding. The interested parties must declare their interest by September 30th. Deutsche Bank AG (London branch) and Eurobank Ergasias act as financial advisors, the lawyers' consortium Your Legal Partners and Drakopoulos Vassalakis as legal advisors and Arup Partnership as a technical advisor to HRADF.

AIA was established in 1996 for the construction, maintenance, and operation -for a period of 30 years- of the Athens International Airport "Eleftherios Venizelos". In February 2019, the contract was prolonged for an additional 20 years (until 11/06/2046).