ΜΠΑΜΠΗΣ ΒΩΒΟΣ Α.Ε.
Joint Regeneration Project of Votanikos: Clarifications
The management of Babis Vovos International Construction S.A. would like to announce the following with regard to recent press articles speculations concerning the Joint Regeneration Project of Votanikos:
The joint regeneration project can only be executed as it was voted by an overwhelming majority of 257 representatives of the Greek Parliament, with the provisions of articles 11 and 12 of law 3481/2006. The fate of the Panathinaikos stadium and the shopping mall of Votanikos are irrevocably linked. In fact, the building permit for the Panathinaikos stadium was issued based on the construction of the shopping centre.
Moreover, the estimated compensation for the Company by official governmental bodies, not including the cost of the project under construction, stands at Eur 280 million.
The joint regeneration project can only be executed as it was voted by an overwhelming majority of 257 representatives of the Greek Parliament, with the provisions of articles 11 and 12 of law 3481/2006. The fate of the Panathinaikos stadium and the shopping mall of Votanikos are irrevocably linked. In fact, the building permit for the Panathinaikos stadium was issued based on the construction of the shopping centre.
Moreover, the estimated compensation for the Company by official governmental bodies, not including the cost of the project under construction, stands at Eur 280 million.