INVESTMENT

HRADF said that its advisors will evaluate the bids and submit their recommendation to the Fund’s Board of Directors regarding the candidates that qualify for the next phase of the tender (binding offers phase).

Interest for a 67% stake in OLI is expected to come from a number of strong groups such as the Italian group Grimaldi, that controls Minoan Lines, AVIAREPS of the Cretan businessman G. Grylos, GEK TERNA, and shipping companies such as Attica and possibly foreign investment groups.

Both in the foreground and in the background, there is mobility in many industries, as dozens of groups - in view of the new reality that is coming - are repositioning themselves in the market, through stronger schemes. Shareholders, owners, funds and entrepreneurs are weighing up the developments based on the pandemic and the next day.

Τhe group of the expatriate businessman from Venezuela did not make any investments, did not list any of his companies on the Cyprus Stock Exchange, did not sign any agreement with an international hotel chain to manage the large hotel portfolio.

In order to unlock American investments, especially from technology giants, the government completed several preparatory steps, with perhaps the most important one being the initiative that allowed Greece after many years to leave the "black" list of countries that do not protect copyright laws, allowing public services to use pirated Microsoft software.

Kassiopi Project, budgeted at over 120 million euros, entails construction on 7 pct of an area of 49.5 hectares (495 stremmas), which will remain green. It will involve a 5-star hotel with 90 rooms and 76 suites, and up to 40 separate luxury villas. It is expected to create 1,000 new jobs to begin with and 500 new jobs once completed, and will include a marina for nearly 60 yachts along with resupply stations.

Government officials believe that if the investment projects, most of which are in tourism, are launched by the end of this year then the benefits to the economy will be maximized.

A bill recently submitted to parliament by Energy and Environment Minister Kostis Hatzidakis includes two regulations, which are seen as moving in the right direction. If they are implemented (a long-term problem of the Greek state), they will then be able to significantly accelerate licensing procedures.

The plan involves the construction of an elevated highway from the height of Papageorgiou Hospital to an area called Konstantinopolitika and then the widening of the road until Kardia.

Niki Symboura, CEO of Cushman & Wakefield Proprius, said in a recent online discussion organized by Prodexpo that "the information we have from our partners abroad is that there are still several foreign investors interested in being positioned in the Greek market. Of course, in the coming months, there will be a decline in sales, but we believe that there will be a recovery by the end of the year. "