The Greek developer REDS (CAMr.AT) submitted the highest bid for the former former U.S. military base just outside Heraklion, Crete. According to the news from Reuters, the Greece/Romania developers bid 40.2 million euros ($45.40 million), which topped the offers of 3 competitors.
Back in October, four investors bid to acquire the 85-acre plot in Gournes, which is slated to become another seaside tourist resort and amusement park.
HRADF, the agency handling these Greece privatizations, chose three of the bidders, finally narrowing the decision to two, Dimand and REDS, to refine their offers.
Previously, developers bought the former USAF installation outside Heraklion to transform the property into commercial ventures like the Cretaquarium, which first opened back in 2005.
REDS Real Estate Development and Services SA has developments in Greece and in Romania.
