![REDS: Timetable for Alimos Marina, “Small Elliniko” and Cambas Project – Debt Restructuring](https://www.ot.gr/wp-content/uploads/2022/07/marina-alimou1.jpg)
The necessary Joint Ministerial Decision will be issued for the utilization and upgrading of Alimos Marina in order to proceed with the issuance of building permits, within the next few days, said managing director Giorgos Konstantinidis, from the floor of the annual general meeting of REDS shareholders. Construction work is slated to start in 2023, with the new marina delivered by 2025.
According to the plan, the revamped Alimos Marina will include among other things, a zone of shops and restaurants, a hotel, a pier, a pedestrian and bicycle path, a command and control tower of the marina, a 850 – 1,000 space parking lot. The redevelopment includes a land area of approximately 21 hectares.
Cambas Project
In the first half of next year, according to the management, the bulldozers will also enter the other large planned project of the company, the Cambas Project, worth more than 200 million euros, in the former Cambas estates in Pallini.
Completion of the projects, which include office buildings, a museum, a restaurant, a mall, a small 40-bed hotel and cultural spaces, is expected in 2026.
Gournes
In addition, last December, REDS bid in a Hellenic Republic Asset Development Fund-HRADF tender for the purchase of the property of the former Gournes Base in Heraklion, Crete, with a total area of 345,567 m2, offering 42 million euros.
Currently, the HRADF is preparing the special purpose vehicle (SPV) to which it will deed the property. The SPV will then be transferred to REDS.
In the “Small Ellinikon”, as it’s called due to the similarities with the major regeneration of Ellinikon in the coastal zone of Attica, casinos, complex tourist accommodation, conference rooms, shopping centers and office buildings will be developed.
Smart Park
At the same time, Ellactor’s real estate subsidiary is negotiating with National Bank and Piraeus Bank for the refinancing of its loans worth 36 million euros.
The aim of the negotiation is to achieve better interest rates and a longer repayment period. In the same context, the extension of its borrowing is being discussed in order to finance the company’s developments.
SmartPark in Spata with a total area of 53,000 m2, which is currently the main source of income for Reds, is currently 98% leased and will reach 100% within the year.
Reds is considering the purchase of neighboring plots and planning additional cost-effective actions that will also increase the traffic at the shopping park.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight
![ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y](https://www.ot.gr/wp-content/uploads/2023/08/unnamed-41.jpg)
ELSTAT- Overall Import Price Index for May 2024 up 2.8% y-o-y
The same price index had decreased 20.8% from May 2022 to May 2023
![Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated](https://www.ot.gr/wp-content/uploads/2024/06/ergasia-ergazomenos-600x300.jpg)
Over 7 in 10 Employees Feel Their Contributions Are Not Appreciated
Specifically, the option "Subjective opinions are prioritized over objective data" ranked highest in importance for young employees, with a score of 3.89 out of 4
![OECD: Job Vacancies on the Rise in Greece](https://www.ot.gr/wp-content/uploads/2024/07/ergasiabusinness-768x556-1-1-600x434.jpeg)
OECD: Job Vacancies on the Rise in Greece
By the fourth quarter of 2023, job vacancies per unemployed person had risen by more than 4, with the index reaching 446 units compared to 100 units in late 2019
![OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece](https://www.ot.gr/wp-content/uploads/2024/05/ΟΤΕ-Group_1-600x450.jpg)
OTE Group: FTTH Program Advancing in Semi-Urban and Rural Areas of Greece
This initiative will provide ultra-fast internet speeds of up to 1Gbps to over 350,000 households and businesses in semi-urban and rural areas across the country