Papaconstantinou on plans to exploit public real estate

The process of listing and evaluating all the real estate property owned by the public sector is expected to start yielding results in June, Finance Minister George Papaconstantinou said in Parliament on Thursday in response to questions.
The minister said that proposals for exploiting this property will begin to unfold and be implemented taking into account the conditions prevailing in international markets at the time.

He said the government had begun to compile a complete record and evaluation of every feature in its portfolio of exploitable real estate, with the assistance of financial and specialised advisors.

The process for exploiting these would be further facilitated by present but also future legislation that the government intends to pass, such as creating a general secretariat for public property at the finance ministry, the introduction of the concept of 'surface' that legally differentiates between land and the overlying buildings and other measures.

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