The real estate valuation project is of great importance, as it involves the creation of a clear file of assets and the updating of maturation and exploitation procedures for 36,000 properties in the ETAD portfolio.
At present, the pilot project for registering and evaluating 500 ETAD properties has been undertaken with the participation of 100% of the properties. This will act as a guide for extending the process to the company's 36,000 properties. However, this is a complex task, as 47% of the first 500 properties that ETA attempted to list could not be located or were encroached upon.
During the pilot project, all 500 properties were recorded and categorized, and 109 properties were fully valued.
Another important project is the utilization of the former Gonou camp by GAIAOSE with 100% participation rate, which has been included in the Development Program of Contracts of Strategic Importance. The maturation of the project was assigned to the PPF unit of TAIPED. Furthermore, GAIAOSE has initiated the process of preparing preliminary feasibility studies for the utilization of important railway stations such as Thessaloniki, Piraeus, Katerinis, and Platamonas. Additionally, GAIAOSE has continued to evaluate its rights to immovable property, including 135 strategic properties, which is updated annually.
ETVA-VIPE has secured 25 million euros from the Recovery and Resilience Fund, with a 35% participation rate, to finance its investment plan, which amounts to a total of 50 million euros. The proposals have been approved by the General Secretariat of Industry of the Ministry of Development and concern 14 industrial and commercial enterprises throughout Greece. This will significantly strengthen the country's production potential and regional development.
The redevelopment plan for TIF/HELEXPO has a total area of 176,000 square meters and includes historical and cultural value for the city of Thessaloniki and Greece. The project features five sectors/activities: park, green and recreational areas, exhibition and conference areas, business center, hotel, and underground parking.
To better understand the financial possibilities for each activity/sector, Deloitte collaborated with TIF/HELEXPO to examine performance and sustainability. Further, Montgomery Exhibition Consultants and its specialists with 35 years of experience studied the assumptions for the conference and exhibition center.
The Master Plan was re-evaluated, different financial scenarios were drawn up, and an optimal plan for the company, including a relevant financial model, was developed in collaboration with the competent bodies and the state, maintaining the public nature of the company.
With nearly 100 years of continuous operation, TIF/HELEXPO hosts a significant number of industry exhibitions and events with approximately 500,000 visitors annually.
The plan includes the creation of five areas: park, green and recreational areas, exhibition and conference areas, business center and hotel, and underground parking.
