Log in
A+ A A-

Astir Palace sold for 400 million euros

The Hellenic Republic Asset Development Fund (HRADF) this week confirmed that Jermyn Street Real Estate Fund IV LP signed a new agreement to submit an amended special zoning and spatial plan for the development of the Astir Palace Vouliagmeni venue, one of the best known resorts and tourist-related sites in the greater Athens area.

The agreement, signed on the last day of 2015, ensures that the plan is adjusted to the Council of the State’s relevant ruling on the purchase. The same sales figure, 400 million euros, was given.

The entire process is expected to be completed within the first half of 2016.

The price is far lower than the one agreed on by the former government, to which then opposition, and currently ruling, SYRIZA decried as scandalous.