Greek government proceeds with the direct activation of Elliniko S.A., public presentation of the draft plan, the integration of other property in the fast track procedure through the Biministerial Committee on Strategic Investment and the promotion of institutional adjustments for the amendment of building conditions.
The members of the board of directors are expected to be announced possibly within the week. The transfer of the ownership of real estate in the area is provided, while apart from the former airport area, it may include waterfront properties.
A formal presentation of Spanish architect Josep Acebillo proposal to the public is scheduled shortly after Easter. Government officials note that the government body of Qatar is in the lead due to the already signed Memorandum of Understanding with Greece, but other parties are not excluded.
Meanwhile, the regulation of the tender are under preparation. Decisions on the zoning and building conditions for specific large State properties will be expedited to ensure faster development and utilization of these assets through the fast-track procedure.
Surface rights and long-term leaseholds will be legally established, while conditions for holiday and tourist accommodation and property development will be defined.
The above adjustments will be presented by the State Minister Haris Pampoukis, while Greek government aims to demonstrate that it could raise €25-35b through real estate development by 2015.
Olympic Properties are expected to play an important role, while banks have been appointed as consultants in evaluation and promotion of properties in the markets. The official appointed is expected within April, while the first portfolio should be completed by June. The other three will follow till the end of 2012.
source: CAPITAL
