New armed forces real state company to optimize management and development of military properties
New armed forces real state company to optimize management and development of military properties

New armed forces real state company to optimize management and development of military properties

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RE+D magazine
24.12.2024

The Ministry of National Defense has introduced a Draft Law aimed at optimizing the operations of the Armed Forces Property Development Service (YPAAPED), with the objective of ensuring more effective management and development of military real estate assets.

The proposed legislative changes also include the establishment of a unified National Defense Property Fund (NADF), consolidating the existing National Defense Funds (NADF - 1,556 properties), the National Fleet (NAF - 460 properties), and the Air Defense (NAF - 72 properties).

At present, the Armed Forces manage their real estate portfolio through nine distinct property management entities, which supervise eleven legal entities. This fragmented structure has led to inefficiencies, overlapping responsibilities, and a lack of specialized expertise in property management. Furthermore, a substantial portion of resources is directed towards auxiliary funds, rather than the strategic management and development of military real estate.

The reform aims to streamline the administration of military properties by creating a centralized, integrated management framework. Key components of the restructuring include the establishment of an Integrated Real Estate Information System, which will facilitate centralized data management and enable more efficient decision-making. Additionally, the new administrative structure will improve coordination with the General Staffs for the management of operationally critical real estate, enhancing the defense infrastructure. The reform will also prioritize the implementation of a comprehensive housing policy, aimed at improving the living conditions of military officers and their families.

It is noteworthy that the Ministry has already initiated the abolition and consolidation of ten military camps, many of which are located in regions such as Evros, Ioannina, Fthiotida, Laconia, and Kos. The first phase of this process, including the closure of the Malakassa camp, is set to be completed by Monday, December 30.