ETAD Launches Assessment Project for First Batch of 1,000 Properties

The Public Real Estate Company (ETAD) is at the gates to kick off the assessment process for the first 1,000 properties in its portfolio. This marks the inaugural step towards utilizing a massive number of properties that ETAD has taken on to manage, overcoming numerous obstacles. According to official sources cited by newsit.gr, the subsidiary of the Hellenic Republic Asset Development Fund, managing over 70,000 public properties, is set to launch an unprecedented initiative within the next period. The ultimate goal is to assess the first 1,000 properties out of a pool of 36,000, paving the way for their eventual use for developmental, investment, or social purposes. Initially, the aim is to utilize 6,500 out of the 36,000 properties. ETAD faces significant challenges, including properties encumbered with Ottoman-era deeds, located in Natura-protected areas, or involved in ongoing legal disputes. Despite these complexities, the project aims to assess properties through nine independent appraisal firms selected via competitive bidding. This not only signifies a technical milestone but also represents a new phase in managing public real estate assets, culminating in a competition for the first batch of 1,000 properties. The objective is to bolster public funds both directly through proceeds from exploitation processes and indirectly by reducing the cost of maintaining thousands of abandoned or underutilized spaces.