Greece for sales: Athens sells 28 public buildings

Among the buildings, offices of ministries, public bodies and the police headquarters.

After months of unnecessary delay, which among other things are often caused irritation of the representatives of the international creditors of Greece, the National Agency for the Promotion of Property of the State (Taiped, privatization agency), has announced yesterday the international tender for the sale and leaseback by the state, 28 state-owned buildings that are now offices of government departments, public bodies and even the police headquarters in Athens.

Properties for sale will be divided into two groups of 14 properties each, while the total rents that derive, according to the Taiped, will amount to approximately 30 million euro per year. The time for submission of tenders from interested parties expires next April 19.

With regard to the period of leaseback,the State may recover any property at the market price after about 20-25 years. According to officials of Taiped, the problem for the sale of real estate is not a lack of buyers willing to invest, but the fall in prices, as the sale comes at a time of severe economic crisis that has already caused a serious decline in the value of the property .

As financial advisors have been appointed to the Taiped Alphabank, the Eurobank Equities Investment, the National Bank and the Bank of Piraeus.