Greece Brings Public Properties Forward to Attract Investors

ETAD CEO Stefanos Vlastos

Greece is looking to maximize the value of its public property by attracting investor interest, said Public Properties Company (ETAD) CEO Stefanos Vlastos during the 22nd Prodexpo Conference held in Athens recently.

In this direction, Vlastos underlined the importance of effective and targeted use of national and EU recovery funds, adding that one of the biggest challenges ahead is ensuring absorbance in ways that have a multiplier effect.

“Our goal is for ETAD to also integrate into our agenda green development and digital transformation projects so that we can enter the new era dynamically,” he said.

In this direction, Vlastos announced urban regeneration projects in large areas in Athens, Thessaloniki, Crete and Nafplio, as well as works on “emblematic business units” including the Parnassos Ski Center.

Parnassos Ski Center – Kellaria site. Photo © Maria Theofanopoulou

Vlastos went on to add that public real estate is attracting investor interest, which he attributed to the improved confidence levels and transparency achieved over the last couple of years.

He also referred to the newly launched Project Preparation Facility which aims to clear away bureaucratic hurdles. ETAD’s chief said it was imperative to cut red tape and abolish vague rules which have delayed spatial planning, urban planning, land use and archaeological issues.

Lastly, Vlastos said ETAD was investing “significantly” in its properties, which include the Parnassos Ski Center, the tourist facility on Arvanitia coast in Nafplio, and the flower shops along the Parliament building.