Concessions given Hellenic Republic Asset Development Fund (HRADF) for property development correspond to 10 billion euros, HRADF Chairman Emmanuel C Kondylis said at the Prodexpo real estate conference on Monday.

Kondylis reported that the HRADF privatisation programme had so far received five billion euros and that the fund had helped lift 100 regulatory and administrative obstacles in the last three years in order to speed up processes.

Moreover, he said that 18 privatisations had been completed, another 18 tenders were in progress, and more than 80 properties had been recorded in the HRADF data base.

Referring to electronic tenders via www.e-publicrealestate.gr, he said that HRADFA aims to secure revenues of 35-40 million euros on an annual basis and that about 13 million euros have been raised so far, while state property abroad was expected to bring another 50 million euros.

He referred to the programme for securitise state-owned real estate by saying this was the first time that a transition was being attempted from exploiting individual properties to exploiting dossiers of properties, aiming to raise investor interest through a combination of investment tools.