Investment in Hellinikon: Last Joint Ministerial Decision was signed

The work that didn’t move forward for years was completed in just three months

The last pending step by the State for the big investment in Hellinikon was finalized. According to safe information from the Ministry of Development and Investment the fourth Joint Ministerial Decision, which concerns the construction of the property was signed.

This is essentially a decision that completes labels the project mature and follows the JMDs for the metropolitan park, casino and development zones.

It was preceded by the adoption of an Act of Legislative Content to overcome the obstacles that existed.

In essence, it is a government effort and personally by Development Minister Adonis Georgiades, who took over all government coordination, doing within three months what hadn’t been done in years.

Everyone is now waiting for tomorrow’s biddings for the casino license contest.

As it seems Mohegan and Hard Rock International will have to “fight” for the license they need to build and operate a resort that will make Athens the top entertainment destination in Southern Europe.

According to estimates we could see the final signatures within 1,5 months provided there are no objections from the two rival companies.

The resort is also the key for the project to move forward. Lamda Development has already begun the process of finding the necessary resources with the on-going share capital increase.