Greek economy gained 20 billion euros from exploitation of state property assets, HRADF’s Xenophos says
Greek privatisation authorities have exploited state property assets worth more than 8.0 billion euros since 2011, with a total benefit to the Greek economy of 20 billion euros, including advance payments, concession fees and investments, Aris Xenophos, executive chairman of Hellenic Republic Asset Development Fund (HRADF) said on Tuesday during a speech at an investment seminar organised by Enterprise Greece, ahead of an expected visit by a Russian industrialists delegation in Athens.
Presenting the Fund’s strategy, Xenophos said the sale of an asset was not an end in itself. The basic priority were those investments that accompanied growth creation and the efficient management of the asset, he noted, as well as innovation in applications, establishing Greece as an investment destination and finally the social footprint of an investment.
He presented the policy priorities of the Fund for 2019, which included regional ports, the Athens International Airport, high-profile real estate assets and marinas. Xenophos said that ports linked with the Egnatia Highway were a top priority: the Alexandroupoli and Kavala ports in the east and Igoumenitsa and Corfu in the west. He added that tenders were expected to be launched by the end of the year. “One of our flagship assets is the 30 pct equity stake in Athens International Airport. We expect this tender process to begin in early 2019 directly after completing an extension of a concession contract currently underway,” he said. He added that the Fund was launching the exploitation of real estate assets in spas, along with a big real estate assets in Heraklion, Crete.