The Hellenic Republic Asset Development Fund (HRADF) was established in 2011 with an initial mandate to develop the State’s private property assigned to it by the Hellenic Republic. HRADF operates to serve the public interest, according to the rules of the private economy and has a portfolio which includes real estate and infrastructure assets, as well as listed companies. The development of the Fund’s assets is implemented in accordance with the prevailing market conditions and with guarantees of full transparency.
Since its establishment, the Fund has completed over 50 projects with proceeds in excess of 10 billion euros and has successfully reviewed over 1,000 properties for development. These projects have mobilized over 20 billion euros in the Greek economy and have an annual contribution to Greece’s GDP which exceeds 1 billion euros.
In addition to the development of state-owned assets, the mandate of the Fund has expanded to include the task of maturing numerous projects of strategic importance funded by the Recovery and Resilience Fund (RRF). For this purpose, in the summer of 2021 the Project Preparation Facility (PPF) was established, which is a distinct operational unit within HRADF. So far, the preparation of projects with a budget of 3,5 billion euros has been assigned to the PPF by the Government Committee on Contracts of Strategic Importance.
