Description

The project concerns the provision of Real Estate specialised advisory services, during the sale of the majority of the share capital of "Hellinikon SA". The object of "Hellinikon S.A.' is to develop and manage an area of land located on the site of the former Athens international airport of Hellinikon, which comprises various land plots with a total combined area measuring approximately 5,250,000 m² (the "Airport Site") and additional sites comprising of the coastal front of the Agios Kosmas area (waterfront of approximately 3.5 kilometres). The site's total area is approximately 6,200,000 m². The project will include the following activities:

Technical Activities Required by Law for the Transfer of State Assets to the HRADF:

According to Greek Law 3986/2011, on the transfer of state assets to be privatised to the HRADF, certain activities, concerning the Hellinikon development process, need to be carried out and approved by the relevant authorities, aiming at the determination of the Property Maturity Plan & Investment Identity, along with the preparation of the Special Zoning Development Plan, including spatial/urban planning study and strategic environmental impact assessment study.

Preparation of the Urban Design Framework for the Project:

The Real Estate Advisory team will prepare an urban design framework for the development of the Project, which will take into consideration the key strategic objectives of the HR in relation to the Project and the envisaged transaction, in conjunction with a number of constraints (e.g. zoning, planning and environmental laws and regulations, social objectives, infrastructure requirements etc.) as well as potential opportunities related to the Project (e.g. creation of a new landmark complex in Athens, creation of a new park and public spaces, possible addition of a marina, etc.).

Definition of the Minimum Technical Requirements for the Investor Selection Process:

The Real Estate Advisor will work with the HR and its advisors to determine the detailed Minimal Technical Requirements ("MTRs") to be included in the tender documents and utilized as part of the selection of the most attractive proposals among the ones submitted by potential investors in the course of the Privatization process. As customary for this type of real estate development projects, it envisaged for the MTRs to include certain design, construction, and other technical specifications to be adopted by potential investors in their proposed master plan for the Project and included in the technical sections of their proposals.

Provision of the Relevant Estimates for Business Plan of the Project:

The Real Estate Advisor will provide ongoing support to the HR and its advisors in relation to the provision of the required estimates and forecasts to be utilised in the business plan for the Project, such as :

1. Estimates of the commercial values of properties to be developed;
2. Cost estimates (including but not limited, to construction, demolition, landscaping, and maintenance costs etc.)
3. Timing assumptions for the execution of the various phases of the business plan
4. Estimates on the absorption capacity volumes of the relevant sales and rental real estate markets.

Valuation of the Real Estate Assets of the Project:   

The Real Estate Advisor will be responsible for estimating the "Open Market Value" of the real estate assets included in the Project.