Former military camps among 1,500 defence properties offered to investors

Greece's Defence Ministry has put together a list of nearly 1,500 properties it owns, including several former military camps, in a bid to lease them to private investors in coming years and better manage the assets.

The real estate include offices, retail stores and vacant land located throughout the country that belong to the ministry but are no longer of any use to defence authorities. The assets will either be rented out or leased on a long-term basis, government officials say, clarifying that they will not be sold.


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A committee set up by the ministry five years ago has come up with the list consisting of 1,477 properties, covering 251.5 million square meters.

Industry officials point out that a number of the properties on the list are located in areas where demand for real estate is strong, for either office use or tourism-related operations.

In recent years, Greece has picked up efforts to develop former military barracks across the country that have been vacated due to reforms in the defence sector.

A number of municipalities have also been eyeing the properties in a bid to increase green spaces on their patch but complain that the Defence Ministry has been asking for too much to hand over the property in a procedure that is heavily bogged down in red tape.