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Greece shortlists firms for former Olympic complex

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Greece has shortlisted all three firms which submitted initial bids for management rights to the sprawling International Broadcasting Center in Athens under a major privatisation plan, Reuters reported.

The countrys privatisation agency said on Thursday that Greek real estate developers Lamda Development, Reds and Talima Ventures are now invited to submit binding financial bids for exclusive use of the IBC for 90 years, but gave no deadline.

Greece has been under heavy pressure to sell state assets and attract investment to help cut its debt and kick-start its economy which has seen its worst recession since World War Two.

The IBC, built for the 2004 Olympics, is one of the biggest single-structure buildings in Greece, with 73,000 square metres of shops and offices and 59,200 square metres of underground parking.

Used as a shopping mall since the games, it also includes some 21,600 square metres of vacant ground originally intended as an Olympic museum.

It is currently operated by Lamda Development, which has a 40-year lease that expires in 2047.
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