Deadline on 50 properties pushed back due to strong interest

Greece's Labor Ministry has pushed back a deadline for those interested in the development of properties it owns in central Athens, to June 8 due to strong investor interest, it said in a statement.

The ministry is running a pilot program to develop 50 pieces of real estate with a focus on handing them over for community benefit. The original cut off date for investors to express initial interest had been set for May 11.

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Among the properties on the list experts believe will drum up strong interest is the Esperia hotel on Stadiou Street that has been closed down since 2010. With interest in hospitality related assets high due to the country's tourism boom, investors are watching out for old hotels that can be up and running after a makeover.

The list, however, also includes property assets which have been repeatedly shunned by investors in the past.


© 2019 by The Greek Guru. 

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