The Hellenic Republic Asset Development Fund (HRADF) has received 4 binding offers for the development of the property in Nea Herakleia, Halkidiki, Greece.

Offers are submitted by the following investment parties:

• AJS SEAS S.A.
• KENTEPOZIDIS BROS AND CO.
• Leonidas Kentepozidis.
• Light Blue Luxury Rooms Single Member P.C.

The assessment of the bids to determine whether they meet the tender criteria will commence immediately, while the financial proposals will be revealed during a later meeting of the Fund's Board of Directors. Nexus Law has been appointed as the legal advisor, and MTC Group as the technical advisor, by HRADF for the property development tender process.