The Hellenic Republic Asset Development Fund (HRADF), a member company of GROWTHFUND – The National Fund of Greece, announces that today, Tuesday, July 9, 2024, the contract for the development of the property “Sani Kassandra” was signed between the Fund and the company “Sani Development and Tourism Company S.A.”.
The company was declared the highest bidder in January 2024 for a fee amounting to 8.6 million euros. The tender for the development of the property was conducted in one phase and the price will be paid upfront in a single installment.
The signing was attended, among others, by the CEO of HRADF, Dimitris Politis, the Executive Director of HRADF, Panagiotis Stampoulidis and on behalf of the company “Sani Development and Tourism Company S.A.”, Theologos Mintzas, Valia Anastasopoulou, Anastasia Bolari, Lampis Pachygiannakis and Eleanna Karvouni.
The signing of the contract marks the start of a landmark investment in an area of exceptional beauty, with significant environmental and tourism interest. The property is a plot of land with a total area of 273.707,10 square meters and is located in “Metochi Stavronikita”, outside the boundaries of the Municipal Unit of Sani in the Municipality of Kassandra, Halkidiki, in an area which once constituted the “Farm of Rural Penitentiary of Kassandra”.
HRADF has engaged the law firm “MOUSSAS & PARTNERS LAW FIRM” to provide legal support for the tender process regarding the development of the property.
Including the signing of this contract, HRADF has completed the procedures for the development of 22 large-scale real estate projects through individual tenders and for 75 properties in clusters through the methods of electronic auction (47) and sale and leaseback (28). These projects have resulted in tender revenues of 1.62 billion euros and multiples of it in investments with a strong social and environmental footprint.
HRADF’s CEO, Dimitris Politis, said: “The signing of the agreement marks the conclusion of yet another tender conducted by HRADF, for the regional development of this popular tourism destination. The tender for this project reflects HRADF’s new culture: we focus on regional development, prioritising the implementation of investments with multiple benefits for the local community and the region’s economy. The high-level tourism development planned by the investor will result in new jobs and the attraction of more visitors to the area. I would like to thank HRADF’s executives who, in collaboration with our external advisors, worked methodically to complete this important project and the investor for trusting the Fund’s procedures”.
