Hellenic Republic Asset Development Fund, HRADF, announced on Tuesday that five binding bids were submitted for properties at Afandou on Rhodes.

In particular, HRADF has received two binding bids for Golf – North Afandou from M.A. Angeliades Inc. for 26.9 million euros and from Dimand SA for 17,500,000 euros.

HRADF has received three binding offers for the property “Foni tis Amerikis” (Voice of America) – South Afandou from M.A. Angeliades Inc. for 13,9 million euros, T.N. Aegean Sun Investment Ltd for 15 million euros and Hatzilazarou Enterprises for 12,35 million euros.

Overall, the highest bids reached about 42 million euros.

According to the terms of tender procedure, HRADF will proceed to the economic and legal audit of the bids and will request the final improved bids for the property of South Afandou from the two investors who submitted the highest bid in order to ratify the decision no later than August 8, 2014.