The joint-venture of Acropole Charagionis and Sonae Sierra (50-50%) has earned the usage rights of the Galatsi Olympic Hall for the next 40 years following the conclusion of the final phase of Olympic Properties International Tender.
The two partners submitted a proposal for an innovative Shopping and Leisure Centre with a gross lettable area (GLA) of 38.100 m².
Representing a total investment of €78 million the Galatsi Olympic Hall will offer an innovative approach to athletic, cultural, commercial and entertainment facilities, featuring the most sophisticated solutions in terms of architecture, marketing and environment. The center is scheduled to start its operations on the 2nd semester of 2008.
On this development, Theodore Charagionis, Acropole Charagionis President stated: I am pleased to say that following the successful operation of Mediterranean Cosmos, the Galatsi Olympic Hall represents the second major project that the two companies will work closely together, in a 50-50% partnership, as owners and developers.
In addition, Álvaro Portela, Sonae Sierras CEO added that the project gives the two companies the opportunity to design a distinctive center with a high quality architectural approach. Our teams objective is to provide Athens with a high quality development, which will be beneficial for the locals and its visitors.
Source: Sonae Sierra