Greece Unblocks State Assets’ Development
After the staffing of the agency for the development of private property, the development of state’s real estate assets begins even with considerable delay, involved officials told Capital.gr.
There are two pillars, which would support the development of public property. The first one is the newly established fund in which Konstantinos Mitropoulos would have a key role as a managing director. He is considered highly experienced in the banking-financial sector, as he had served as a member of the board of Hellenic Exchanges and head of investment banking at EFG Eurobank).
Under the medium-term plan, the interministerial committee for restructuring and privatization has decided on the transfer of all under privatization assets to the new fund, without consideration, in full ownership and possession. by the transfer, the State loses any right on the assets.
Consulting group
The second pillar is a group of bank, coordinated by the National Bank, whose task is to assess the state portfolio and examine investment
prospects for each asset.
Despite there is no luxury of time, the banks operate informally, as the contract between the Greek government and the consultants hasn’t been signed yet.
The consulting team would undertake to make the assets attractive to potential investors, developing the necessary planning studies and applying what is provided under the implementation act.
The program includes the developing of tourist facilities, business parks, shopping-theme parks and transport-environment infrastructure.
The building factor is set at 0.2 for tourist facilities, 0.3 for business parks and 0.4 for shopping centres.
Under the medium-term program, seashore and beaches could be granted directly to the investor for 50 years.
(capital.gr)