Παρασκευή, Μαΐου 06, 2011

A big fat Greek real estate sale


(Reuters) - Would you do a property deal withGreece? For a country that hopes to escape bankruptcy by shifting billions of euros worth of prime real estate, Athens' sales pitch is far from reassuring.
Take its attempts with the old Hellenikon airport in Athens. The airport closed in 2001, leaving 170 acres of coastal land that successive governments have tried to turn into something that could make money. A decade on, plans to raise 7 billion euros by partnering with Qatar to build a financial district along the lines of London's Canary Wharf remain stuck on the drawing board.
The old airport is a poignant symbol of hope unrealised. An old Boeing 747-200 sits rusting among the weeds, abandoned airport equipment litters the parking lot, and once-busy terminals stand empty only a few hundred meters from the sparkling Aegean Sea, the wind howling through the broken doors and windows.

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