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Newsletter October 2011

TRENDS & TRADEWINDS

McArthurGlen opens in Greece in 2011

McArthurGlen opened Greece’s first true Designer Outlet in 2011. The centre is a 30-minute drive from the centre of Athens, near the international airport. Half the population of Greece lives in Athens, a city with exceptionally strong tourism. McArthurGlen Designer Outlet Athens, with 21,200 square meters of retail, provides a welcome boost to the Greek fashion market with its unique shopping concept, and some great luxury and designer brand names.

German Plans for Investing in Greece
German Vice Chancellor and Federal Minister of Economics and Technology Philipp Rösler announced that Germany will finance the investments of German businesspeople in Greece for as long as Greece will not have access to the markets.

The German official headed a large business mission to Athens, accompanied by German businessmen who are interested in investing mainly in the sectors of energy and refuse management.
The purpose of the visit is to be the formulation of specific investment initiatives, while a Greek-German economic cooperation agreement was signed.

Innovative Photvoltaic Park at Athens International Airport
Athens International Airport has launched the largest unified PV installation of any airport in the world.

The 20-million Euro investment, an 8MWp facility occupying 160,000 square meters on the site of the AIA, was completed in a period of 6 months. The photvoltaic park is projected to produce 11 million kWh annually, almost 20% of the company’s electricity needs (9% of the airport community needs) and will reduce CO2 emissions by at least 10,000 tonnes annually.

The Chairman of Athens International Airport, Prof. Stratos Papadimitriou, stated: “The construction and operation of the airport’s PV Park demonstrates once more AIA’s commitment to be a model company in the modern business environment, where efficient corporate governance demands responding to new challenges, through business solutions based on creativity and innovation.