Signing of the Land Agreement for the concession of land in The Ellinikon in relation to the development of the Integrated Resort Casino (IRC)

GEK TERNA S.A. announces the signing on 09.09.2022 of the Land Agreement between its subsidiary IRC HELLINIKON S.A. and HELLINIKON S.M.S.A. (100% subsidiary of LAMDA DEVELOPMENT S.A.) for the concession of a land in The Ellinikon to IRC HELLINIKON, on which the latter has undertaken to develop the integrated tourist resort-casino ["Integrated Resort Casino" (IRC)]. The duration of the Land Agreement is 30 years.

The said development will consist of a five (5) star hotel, a conference and exhibition centre as well as an arena for sports and/or cultural events and a casino. The development of the IRC will occur in accordance with the provisions of the Concession Agreement between the Greek State and IRC HELLINIKON, ratified by law by the Hellenic Parliament (L. 4949/2022 - FEK Α' 126/30.06.2022), and is estimated to be completed within three (3) years from the commencement of the relevant works.

Commenting on the said agreement, IRC HELLINIKON Chairman, Mr. Manos Moustakas, said:

"Today we take an important step towards the commencement of construction of the Integrated Tourist Resort-Casino in the heart of the Athens Riviera, which is also on the largest investments currently being undertaken in Greece, with multiple benefits for our country."

Commenting on the said agreement, LAMDA Development CEO, Mr. Odisseas Athanasiou, said:

"Another agreement for the landmark project The Ellinikon has been completed. We are confident that the modern, of high international standards, tourist resort will attract hundreds of thousands visitors from Greece and abroad, contributing to our vision that The Ellinikon becomes a reference point in the international environment."

Information:

Press Office: Mary Andreadi, tel. + 30 210 6968000, [email protected]