Court officials announced on Friday that auditors unblocked a $1.2 billion sale of a prime seaside real estate at the abandoned Hellenikon airport. This opens up the property for the biggest privatization deal since the start of the debt crisis following a block that auditors had enforced in September. The privatization agency HRADF had appealed the decision and auditors found that the tender by Lamda Development meets all the legal requirements necessary for the deal to go through.

The deal still needs to obtain a series of approvals before the sale can be rendered complete and it is estimated that it can take up to two years before the deal is finalized.