Valuable state property to individuals for 100 years

In order to attract private investors to provide capital for the utilization of various areas and regions of the country, the Fund for the Development of State Property uses public areas of outstanding natural beauty.

The competition that will be launched today by the Fund for the Development of Private Property for the granting of a property in Kassiopi, Corfu, to an investor who will undertake its utilization for the next 100 years, is considered a pilot for such interventions.

It is an area of ​​490 acres. More than half of it is private forest land, containing a small natural lake. The usable area is estimated at approximately 178,000 sq.m. The property has direct access to the sea with a coastline of 700 meters.

As noted on the website of the Fund, the property is of outstanding natural beauty and located in an area of Corfu with low utilization so far. Given the high-profile properties in the region, such as the Rothschild estate, the possibility of utilization and the resulting value could be very high.

The property is proposed for exclusive use or development of a complex focusing on holiday homes and leisure hotel facilities/services. The State intends to proceed with all necessary steps to facilitate its utilization and development.

It is located in the Kassiopi peninsula, 38 km north of Corfu City, which has an international airport. Each year the island receives more than 700,000 foreign tourists, mostly British, German and Russian.

Next on the list is the area of Afantou in Rhodes, followed by Prasonisi and Asteras in Vouliagmeni, with the ultimate aim of finding 25 billion euros towards debt reduction.

Already tens of public buildings have been transferred to the Fund, including the International Broadcasting Centre, the site that hosted the Voice of America in Xanthi, properties in Antirrio - next to the bridge - and the ski resort of Kaimaktsalan.