Greece is at a turning point, with its economy recovering after a long recession. 2018 looks set to be an important year, one that will see the country shift up a gear. GDP growth likely rose to 1.6% in 2017, and all the indexes show a positive reversal in economic sentiment. There is a new framework for the reduction of banks’ non-performing loans, which have been a barrier to financing. Unemployment is declining, supporting private consumption. The perception of Greece as an investment destination is now greatly improving.
In this environment, the public property development program implemented by the Hellenic Republic Asset Development Fund (HRADF) is one of the main pillars for attracting capital and direct foreign investment into large-scale corporate, infrastructure and real estate assets. The fund was established in 2011 to privatise public assets to reduce public debt. Its mission, in close cooperation with the Greek government, is to attract direct investment in order to maximise revenues to the state as well as revitalise the economy.