The ambitious project for the documentation, categorization, assessment, and maturation of 36,000 properties in the portfolio of Hellenic Public Properties Company's (HPPC) subsidiary is progressing with the involvement of nine corporate entities.
Recently, the inaugural meeting of the project took place, marking the launch of a significant initiative for managing and utilizing the company’s real estate assets. The project includes nine pre-selected corporate groups that were chosen through an international tendering process, under the supervision of a Project Management Office (PMO).
As stated in an official announcement, the goal is to evaluate up to 36,000 properties, appraise up to 6,500 of them, and carry out maturation actions on a subset of up to 1,000 properties. To implement these actions, the nine participating corporate entities will engage in internal tenders (call-offs) which will include technical and legal checks, evaluations of specific groups of properties, or other maturation activities. The first tender, already under preparation, concerns 1,000 properties.
This project, executed jointly by the Hellenic Privatisation Fund (HRADF) and HPPC (following approval from their Boards of Directors), is one of the largest initiatives for real estate mapping and management in Greece. Its objective is to streamline the HPPC portfolio and ensure the effective utilization of public property.
The project is overseen and supported by a team of HPPC executives, while a modern and flexible property management platform, in combination with an AI tool developed and customized by the PMO, is already operational, delivering the first positive results. The project is progressing dynamically, with the next steps involving the launch and execution of the first tenders, aiming to improve efficiency and accelerate the evaluation and utilization process of HPPC's properties.
The PMO team is comprised of McKinsey & Company and 8G Capital Partners, while the selected consortiums through the framework agreement include:
- "AMERICAN APPRAISAL (HELLAS) LIMITED" – "DBC DIADIKASIA S.A." – "LAMNIDIS LAW" – "A. PETROPOULOS & ASSOCIATES"
- "Alpha Real Estate Services S.A."
- "CERVED PROPERTY SERVICES SINGLE-MEMBER S.A."
- "Colliers Greece"
- "GLP PROPERTY MANAGEMENT - APPRAISAL S.A." – "IRIS O.E." – "E.P. KYRIAKIDIS LAW FIRM"
- "Hill International NV" – "AURA REE GREECE LLC" – "E. VLACHOGIANNIS & PARTNERS LAW FIRM" – "DIMITRIADIS-BOTTOROS & PARTNERS LAW FIRM"
- "QUALCO REAL ESTATE LTD" – "FRAGOU LAW FIRM" – "QUALCO SINGLE-MEMBER S.A. SYSTEMS"
- "Euroconsulting S.A. Development and Technology Consultants"
- "PANAGIOTIS KARAMOSCHOS & PARTNERS LLC – MTC – MAKEDONIKI TECHNIKI S.A." – "E. ARVANITI & PARTNERS LAW FIRM" – "SALFO & PARTNERS S.A. MANAGEMENT AND TECHNICAL CONSULTING" – "ROIKOS ENGINEERS S.A."
