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BABIS VOVOS INTERNATIONAL TECHNICAL S.A.
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Announcement
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December 21, 2007 BVIC Group is pleased to announce that it has received the second of the three necessary building permits for the Sounio project. The five star hotel development will cover a 62,000 sqm land plot owned by the group along the coast of Sounio. The first building permit was received in August 2007 and covers 5,361 sqm of lettable area. The second building permit for a development of 2,778 sqm, was received today. The final building permit which is expected in January of 2008 will cover 3,636sqm of lettable area, bringing the total lettable area to nearly 12,000 sqm. This project confirms our commitment to expand into the tourist development sector. The management of BVIC believes that the development of the land plot in Sounio, in a particularly attractive location, will generate significant demand from Greek and foreign hotel operators.
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