Minoan Share Discussion Threads

[boliviana] 16/5/2022 15:33

Quite so Will. This has most definitely been the plan for a long as I understand and that’s what will make the development so desirable and valuable.

Of course providing our man gets the bishop to sign an agreement so things can get started.

[clocktower] 16/5/2022 15:01

wi1L - that is how the plans usually start but then new plans come along and the concrete extends, as its only a little bit here and there to fill someones pockets or to have a luxury home with outstanding views, as we all know money talks.

Not to say that's bad for shareholders.

[wi1l] 16/5/2022 14:28

This development is different mudbath,with less than 0.5% of the land used for building. Discrete Hotels and serviced residences are tucked away in, or overlooking, coves within the natural folds of the land.

[mudbath] 16/5/2022 13:45

wi1l (part 20176)

"never mind the area is one of outstanding natural beauty with numerous coves and spectacular sea views."

I have thought this about many locations across Europe; in the past that is; for they have, over recent decades, continued to disappear from view; overwhelmed by the concrete poured by corporate greed.

[daicaprice] 16/5/2022 09:08

Green policies and sustainability fit in very nicely with what we can offer I’d say.



DC

[wi1l] 15/5/2022 07:07

Note the final sentence

"He also noted that major players in tourism worldwide have chosen our country to make their investments for the construction and development of real estate."

[wi1l] 15/5/2022 07:02

Smyrlis: At 1.17 billion. Foreign Direct Investments in the real estate market



The particular interest of the 1st Real Estate Forum 2022 was highlighted in the greeting addressed today by the General Secretary of International Economic Relations and Extroversion (DOSE) and President of Enterprise Greece, Ioannis Smyrlis, stressing that interested parties can be informed about all the data in the real estate industry, to be informed about the new trends that apply to the residential, tourist, commercial and commercial real estate, but above all it gives the opportunity to all those active in the sector to actively participate in the public debate.

Mr. Smyrlis pointed out that real estate is one of the traditional sectors of attracting investments, which has been significantly tested in recent years, due to the economic crisis and the COVID-19 pandemic. However, 2021 has moved into a recovery path at a steady pace, especially with regard to hotel units, commercial real estate and high-end residences. In particular, Foreign Direct Investment reached almost EUR 1.17 billion. euro inflows for the purchase of real estate, showing an increase compared to 2020.

The Secretary General mentioned that the recovery in the real estate market in our country, has now a steady pace and has strengthened with significant supplies. The new Development Law, as he said, and the Law on Strategic Investments, as well as the financial tools provided by the Recovery and Resilience Fund, the new NSRF and the Just Transition Fund, create a new, flexible and favorable environment for the further development of the real estate industry. He also noted that major players in tourism worldwide have chosen our country to make their investments for the construction and development of real estate.

[microscope] 14/5/2022 14:22

Anecdotal but personal experience abroad is that it's often the precise aspects (for legal purposes) of translation services that takes the time. It's much improved now thanks to technology of course, but still the finer details can be what takes the time.

EU law would be a good example, while we saw all the delays just within Greece (without translation!) when they were finalizing the development law.

That said an outline agreement should still hopefully be achievable fairly quickly, as long as all parties are still willing. (As a matter of interest, when was the new bishop appointed?).

As far as we know meantime DAGG needs sorting as the loan is overdue technically.

Couple of questions for weekend entertainment....

What price will the shares be on market close on day agreement is announced (outline or completed)? Appreciate there'll be some who want to get out but recent improved volumes may have taken some of that away. I'll go 2p.

And more as a tease what would the price be today, if none of the posters on this board held shares? :(

Scary thought, I'll go 0.75p....

[waterloo01] 14/5/2022 13:36

Key thing to know is that there is an agreement and the outline of it. I hope we'll get at least that at the AGM.Contracts as you say can take awhile, so can follow, hopefully quickly but it takes 6 weeks just to sell a house in the UK, so unless they are already at that stage, then it might be pushing it to get that before the AGM.

[wi1l] 14/5/2022 12:57

The opportunity is there for all to see.

* Considerable investor interest in the tourism field.

* Govt bending over backwards to help in any way they can to include substantial grants, subsidies and tax incentives.

* Considerable funding available from banks.

* Changes in the development law to speed up the development process.

never mind the area is one of outstanding natural beauty with numerous coves and spectacular sea views.

[wi1l] 14/5/2022 12:43

Thats down to the lawyers making a meal of everything, they should have a field day here so you can bet your bottom dollar there will only be an outline agreement at best by the agm, which, if that is the case, will be a major achievement in itself.

[tim000] 14/5/2022 12:12

Thanks, so I was wrong on that! I’m a bit surprised though, since legal contracts are rarely straight forward.

[waterloo01] 14/5/2022 09:31

It was said at the AGM that legals shouldn't take more than a month once an agreement has been reached, so slightly different. Hopefully we'll get an update on where they are in that process by or at the AGM

[tim000] 14/5/2022 09:12

As I think others have stated, I personally think the agreed loan extension terms are conditional on an agreement being concluded with the Foundation. So both pieces of news should arrive almost together - and I would guess before the reconvened AGM. The confidence of all concerned in extending the loan again is thus an implicit confirmation that a deal with the Foundation will be concluded shortly.

[tim000] 14/5/2022 09:04

As I understand it, feedback from the AGM was that an agreement with the Foundation was expected within about a month, so before the reconvened AGM. While not a lawyer, I believe the typical legal transaction takes more than a month to sign off. I would not expect the company to make forecasts of the timing of a deal with the Foundation without there already having been substantial discussion between the two sides’ legal teams and a draft agreement already in place. So sign off should be imminent - providing the company’s confidence is not misplaced!

[wi1l] 14/5/2022 06:51

Found this but goes back to April 2021, I wonder if still relevant........

MHV: The trip to Cyprus and the mature tourism projects in Crete



In full swing is the development of Mediterranean Hospitality Venture Limited (MHV), the tourist "arm" of Prodea Investments, which also consists of the parent Company Invel Real Estate and the Yoda Group of Mr. Ioannis Papalekas (real estate investor, known for his involvement with "Nammos" in Mykonos).

At the same time, MHV is particularly active in placing funds in the Greek tourism market, where there are now several mature investment projects of organized tourist accommodation, which are looking for strategic investors and funding. Among them, two are located in the sitia area of Crete. The first belongs to the group of the marble industry Iktinos and the second to the British group Minoan, which designs the "Itanos Gaia", in Cavo Sidero. Both are in the final stage of permits, after a multi-year process of urban maturation.

[hugothesecond] 13/5/2022 17:09

The delay in the accounts being signed off gives George valuable headroom to tie up a revised deal from the Foundation which will allow new funding at a level hopefully above 1p to be secured.

[waterloo01] 13/5/2022 16:26

It will happen. It's just not instant.!!

[boliviana] 13/5/2022 16:24

Some great informative posts today guys.

Have to say in 100% agreement with Rafboy, we need that deal signed with the foundation. Once signed we should see everything else then fall into place.

[waterloo01] 13/5/2022 15:54

Nobby, not quite. 300m is he likely build cost, so not 300m incoming, although it would be nice if that were the case.

[livewireplus] 13/5/2022 15:44

Or a tad under 300 bitcoin at present rates :-)

[nobbygnome] 13/5/2022 15:41

Investment of £300 million incoming….yet the company which holds the right over the site is valued at £7.5 million. The world is completely mad….

[waterloo01] 13/5/2022 14:21

It should hopefully ignite some significant interest and larger buyers and no doubt will provide a point where some can exit.

[rafboy] 13/5/2022 14:14

We just need that Foundation deal signed. How many here will buy more at that point, how many new investors will come on board at that point?