The contract was signed between Panagiotis Stampoulidis, Deputy CEO of the Hellenic Corporation of Assets and Participations (HCAP), and Michalis Zervakis, Rector of the Technical University of Crete, in the presence of Sophia Zacharaki, Minister of Education, Religious Affairs, and Sports. The project will be developed by HCAP’s Strategic Projects Unit (PPF) and forms part of a pilot program for partial and complementary self-financing of universities through long-term investments.
Two Development-Focused Interventions
The project targets the utilization of inactive university properties and includes two distinct interventions:
- First, the development of an infrastructure complex on university-owned land adjacent to the university campus. The plan envisions low-rent student housing with flexible lease terms, a conference center, and a modern student center, addressing the needs of students, researchers, and visitors.
- Second, the development of a land parcel in the “Kokkini Chalepa” area, with the final model to be determined upon completion of the project maturation process.
PPP and Sustainable Infrastructure
The project will be implemented through Public-Private Partnerships (PPPs), aiming to create modern, energy-efficient, and environmentally sustainable infrastructure. Key priorities include energy savings, the development of green spaces, and the integration of innovative technological solutions. Revenues from the utilization of university property are expected to strengthen the institution’s financial sustainability, supporting ongoing needs such as infrastructure maintenance, equipment upgrades, and human capital development.
A Model for Public Universities
According to Minister Sophia Zacharaki, this is the first organized project for leveraging the assets of a public university in Greece, aiming to deliver tangible benefits to society and establish a new sustainable development model for higher education.
From HCAP’s perspective, Mr. Stampoulidis emphasized that the utilization of inactive public assets can generate long-term value for education and the economy. Rector Michalis Zervakis described the project as emblematic, enhancing the university’s international engagement, research activity, and integration with the local and national economy.
The Technical University of Crete project aspires to serve as a pilot for nationwide university property utilization, paving the way for more financially sustainable and internationally competitive public universities.