The PUBLIC PROPERTIES COMPANY S.A realizes online real estate auctions in the context of exploiting state-owned property, in collaboration with Hellenic Republic Asset Development Fund (HRADF).
A few words about PUBLIC PROPERTIES COMPANY S.A
PPCo SA is a corporation with the mission of managing, developing and exploiting the private state-owned properties. The Company is 100% owned by the Greek State and is supervised by the Ministry of Finance.
Company’s real estate portfolio constitutes of 277 diverse tourism properties throughout Greece, such as the former Xenia Hotels, Marinas, Camping Sites, Golf Courses, Ski Centres, Museums, Caves, Tourist Kiosks, Hot Springs and also large areas of land with excellent prospects for tourism development, 12 Olympic Properties as well as approximately 71,000 properties owned by the Greek state.
In this context PPCo S.A. is involved in the:
- Management and administration of public properties (tourism properties, Olympic properties, urban, rural and other properties).
- Contract management of real-estate leases and concessions.
- Management and operation of tourism business units (marinas, beaches, hot springs, etc.).
- Leasing of properties in combination with private investments through tenders.
- Real-estate development by co-financed programs.
- Short-term lease of facilities and outdoor areas throughout Greece for various events (exhibitions, concerts, congresses, workshops, receptions, etc.).
- Participations (equity participation in corporations for the development of tourism properties).
Top priority of PPCo S.A. is the management and exploitation of its portfolio of properties with modern finance tools, in line with its objectives and the country’s development policy’s goals, thus contributing to the development of the economy, tourism and local communities. Major objective of the Company is to attract private investments and promote public and private sector synergies, taking into consideration the protection of the environment and in cooperation with the local stakeholders.
Terms and Conditions for Participating in the Auctions
Only registered Members of the portal can participate in the auctions. For the registration, an account should be created, completing a form which includes: username, password, first & last name, e-mail, full address, telephone, member category (Bidder or Realtor) and tax number and declaring the acceptance of terms and conditions. The portal administrator has the right to investigate the submitted data as well as additional data of the applicants.
Users consider being physical or legal persons who participate in an auction in order to purchase or lease a property for their own use. From the other hand, realtors can also participate in an auction representing their clients.
More analytically, if the Registration Application is submitted by a realtor, prior to the participation in an auction, he should send an e-mail to the portal administrator declaring:
- The name of the physical or legal person which will represent in the auction and
- He holds a Realtor Authorization for the specific property;
- He will send, together with the other auction participation documents, a solemn declaration stating that he represents his client, stating his/her name and the number of the Realtor Authorization Form.
Moreover, it should be mentioned that a participation guaranty is required for the participation in an auction. The net amount, the duration, the return or forfeiture of the guaranty will be specified in the “Auction Terms” of the property. The participation guaranty can be provided by:
- Bank guaranty – must be sent together with the rest participation documents by e-mail or courier (PPCo’s Document Management Office, 7, Voulis St., Syntagma, Athens, with the indication “Participation Guaranty” and the Auction ID).
- Bank cashier’s check – The deposit data as well as the bank account for the return of the guaranty should be sent should be sent according to aforedescribed way.
- Deposit in bank accounts which will be specified in the “Auction Terms” of the property.
The next auction is expected to be announced in late September to early October. Tourist land plots in Chania and Chalkidiki, as well as commercial properties in several regions of Athens are to be auctioned in the near future. Consequently, those interested in acquiring some property should begin the necessary procedures, or authorize an experienced realtor who can guide them properly and bail them out from unnecessary effort and wasting time.