The Board of Directors of the Hellenic Republic Asset Development Fund, a member company of GROWTHFUND – The National Fund of Greece, during today’s meeting decided the following:
- The declaration of the company “INMO PARCK INVEST S.A.” as Preferred Investor for the development of the property “Koniavitis Thermal Spring & Camping”.
The improved offer for the development of the property “Koniavitis Thermal Spring & Camping”, submitted by INMO PARCK INVEST S.A. on 15.02.2024, was evaluated by the Board of Directors and the company was declared Preferred Investor.
The property covers 593,061.75 square meters and consists of two areas (A and B). According to the terms of the Tender, Area A is available for sale, while Area B will be developed with a 50-year long-term lease.
The price offered by “INMO PARCK INVEST S.A.” amounts to present value:
- For area A: 9,338,842.98 euros.
- For area B: EUR 1,679,341.76 euros.
The Preferred Investor intends to implement significant investments worth at least 200 million euros for the further development of the property, the coastal front and the thermal springs. The intended investments include tourism and leisure uses, such as a luxury hotel, residences, wellness facilities and shops as well as the development of a marina infrastructure. The investments are in line with the Spatial Development Plan (ESCHADA) that has been carried out. The Preferred Investor intends to follow a sustainable development strategy, with a strong “green” footprint for the wider region.
Area A is a plot outside the urban planning zone which covers 520,515.65 square meters with a sea front of about 1,200 meters. According to the Spatial Development Plan (ESCHADA) study that has been approved, Tourism and Leisure uses are allowed, such as tourist accommodation, special tourist infrastructure and other tourist facilities serving the Thermal Springs, marinas, residence of staff facilities, shops, social welfare uses, sports facilities, cultural facilities, religious sites, healthcare, catering, refreshments, entertainment and recreation centers, parking, exhibition facilities, helipad, sewage treatment plant, etc.
Area B is a plot outside the urban planning zone with an area of 72,546.10 square meters, which includes both thermal springs, “Mylos Koniavitis” and “Kallyntikon”, with the latter officially recognized. Area B is defined as an area for the promotion of thermal springs and according to the Spatial Development Plan, special uses are defined, such as personal hygiene areas, changing rooms, guardhouse, canteen, tanks, pumping stations, etc., as well as outdoor parking.
Following the submission of the Preferred Investor’s Letter of Guarantee and the supporting documents provided for in the Invitation to Tender dated 21.04.2023, the Board of Directors will declare the Preferred Investor as the Highest Bidder. Subsequently, the file of the tender will be submitted to the Court of Auditors for pre-contractual audit, while the transaction documents will be signed after the approval of the Court.
- The declaration of the tender for the development of the property in the area of “Ververonta”, Porto Heli as unsuccessful.
The improved offer submitted by “GOUTOS BUILDING L.P.” was significantly below the independent evaluation regarding the property.
The property is a non-seaside plot, with panoramic views of the Argolic Gulf and covers an area of 627.417,92 square meters. It is located approximately 500 meters from the center of the settlement of Porto Heli and 300 meters from the Ververonta lagoon and the coast of Porto Heli Bay.
The Board of Directors of HRADF will approve in the near future the launch of a new tender for the development of the property.
Please refer to the Fund’s website for more information and updates regarding the Hellenic Republic Asset Development Fund (HRADF).
Information for the Press: Αchilleas Topas, Τel +30 6944902085, Email press@hraf.gr & atopas@hraf.gr
