TAIPED & REDS Sign Deal On Gournes – Agreement Update

The Hellenic Republic Asset Development Fund (TAIPED) and the Regional Unit of Crete (REDS) have agreed to develop Gournes, one of Greece’s most scenic areas. This new cooperation between two important Greek state entities promises to increase investment in local businesses and create valuable job opportunities, helping to revitalize this picturesque area while allowing it to remain environmentally protected.

As part of this deal, TAIPED will inject millions over a short year into REDS projects focusing on infrastructure upgrading, environmental protection activities, and economic diversification. Jointly, these public investments are expected to attract further private initiatives, help promote socio-economic growth in the region, and provide more tourist facilities.

On Wednesday, REDS SA received a contract officially sealed by the Hellenic Republic Asset Development Fund (TAIPED) to purchase the ex-US base in Gournes, Iraklio, on Crete.

The company had the most generous bid in an e-auction, raising its offer to 42,237,679 euros – a 77.8% increase from its original €22.6 million asking price.

Gournes is a coastal area that covers an area of 345,567 square meters and is situated 13 kilometers from the nearest airport and 16 km from Iraklio city.

The agreement dictates that REDS will be responsible for investments amounting to more than €210 million, which include a luxurious hotel, an apartment complex, a shopping center, and a gambling establishment.

Christos Staikouras, the Minister of Finance, and Adonis Georgiadis, the Minister for Development and Investment, were both present at the signing ceremony.

As a result of the agreement between TAIPED and REDS, Gournes will undergo large-scale development that will benefit locals and tourists alike. With increased infrastructure, businesses, and job opportunities, the area will surely see improvement in its economy and quality of life.

This deal highlights the potential for growth in underdeveloped areas of Greece and paves the way for future projects that will similarly revitalize other parts of the country.

Source: ekathimerini

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