Government will respect its contractual obligations for Hellinikon, say gov’t sources

Greek government sources were quick to assure property developer Lamda Development on Friday that it will respect its contractual obligations with the company for the vast investment in Hellinikon, and invited the investor to cooperate “in good faith” to complete the project.

“The Greek state and the government assure that all its contractual obligations for the investment in Hellinikon will be respected,” government sources said, adding that “the self-evident requirement is for the investor to keep his own commitments”

The same sources said the investor is aware that the two sides are currently in the approval phase for the Integrated Development Plan (IDP) and the environmental impact study.

“In this phase, the different state agencies are expressing opinions that will be taken into account as a whole in the presidential decree that will be be issued, in accordance with Law 4062/2012,” the sources said.

“During this process, the cooperation of both parties is needed to specify the individual parameters and find a legal position, which will also receive the approval of the Council of State. We therefore invite the investor to cooperate in good faith, which has proven to be the only method to solve all problems,” they added.