The contract for the study, financing, construction, maintenance, and operation of student dormitories at the University of Crete in Rethymno and Heraklion has been signed. The project will be implemented through a Public-Private Partnership (PPP), with Deloitte playing a key role as the consultant for the AKTOR Group of Companies.
Deloitte acted as the Independent Auditor of the Financial Model for the AKTOR Group, leveraging its expertise and best practices in implementing PPP projects to contribute to the successful financial closure of the project.
The project, signed on March 27, has a total budget of €255 million and includes the construction of 4,846 dormitory beds in Rethymno and Heraklion, as well as the construction of an 800-seat auditorium at the Rethymno campus. With a primary focus on sustainability, the University of Crete is expected to offer upgraded living and educational conditions for future generations.
The agreement stipulates that construction will be completed within 36 months, and the facilities will be maintained for the next 27 years, ensuring high-quality infrastructure that meets modern standards.
This project is expected to significantly enhance the educational infrastructure of the region, raising the level of public education and providing facilities that are a marked improvement over the traditional universities of previous generations.
Dimitris Nektarios, Deloitte Partner and Infrastructure and Capital Projects Leader, stated: "We are honored to have contributed to the successful signing of such an important project. As the Independent Auditor of the Financial Model, we leveraged our deep experience in PPP projects to ensure the transparency, sustainability, and reliability of the financing design. Projects like this are a substantial upgrade to the public education infrastructure and represent an investment in the future of students and local communities. Deloitte utilizes its expertise to contribute to projects with a meaningful impact on future generations.
