Greek listed property developer Babis Vovos said it has entered negotiations with its lenders, Alpha and Piraeus Bank, on a EUR 125 mln refinancing of the Votanikos shopping centre development in Athens.
Greek listed property developer Babis Vovos said it has entered negotiations with its lenders, Alpha and Piraeus Bank, on a EUR 125 mln refinancing of the Votanikos shopping centre development in Athens.
'The two banks from the very beginning expressed their faith in the realisation of this very important project. This is proven by the fact that so far the amount disbursed has covered almost entirely both the cost of land acquisition and construction works to date,' the company said.
Babis Vovos said a draft contract has been drawn up to finance the remaining development cost, amounting to EUR 110 mln.
Babis Vovos was granted a permit to complete the construction of the 32,000 m2 Votanikos shopping mall in Athens last September. Property services firm Colliers is marketing the centre.
