Michaniki S.A. construction group signed contract with the Greek branch of German retailer firm PRAKTIKER for the project of converting the existing installation including all the additional construction works for completing the project of the construction of a major commercial center budgeted at 10.9 million euros. In early 2006, Michaniki S.A. has signed a cooperation agreement with PRAKTIKER for selling a real estate asset, a sale worth 17.5 million euros and for constructing new commercial premises of the German retailer in Mandra Attikis by the main Athens - Corinth Highway. The time schedule for the completion of the project is 11 months from the signing of the relevant contract.