The "Hellinikon Recreational and Sports Parks" consortium comprising GEK SA, J&P-AVAX SA, VIOTER SA and Corfu Waterpark, in which J&P-AVAX SA participates with a 25% stake, signed on 04/01/2007 a contract with Olympic Properties SA regarding the long-term lease of the Olympic Slalom Canoe/Kayak venue situated at Hellinikon in Athens.
The post-Olympic Games use of the 290,000 sq.m. property which includes the Slalom Canoe/Kayak facility pertains to the creation of an innovative centre for amateur sports and recreational activities in a modern water theme park, built to the highest international standards, which will evolve into a major year-round attraction for domestic and international visitors alike.
The term of the lease is 30 years. Works are expected to start at the end of the first quarter of 2007 and be completed by end-2008. Some of the sports recreational activities are likely to be available at an earlier date, on the existing Slalom Canoe/Kayak facilities.