Press enter

Greece to offload state-owned commercial properties | 2 October 2012

Greece is to sell off a range of high-end properties as part of a privatisation programme linked with its bail-out.

The debt-ridden country has agreed to raise 50 billion euros from the sale of state assets by 2020 and it is thought that half of this total will come from real estate.

Telegraph.co.uk reports that the Greek government has submitted a new list of commercial properties to be sold.

These include the royal Palace of Tatoi in Athens, a 10,000 square foot consular residence in London and various across office buildings in Belgium, Serbia, Cyprus and Slovenia.

The country is even planning to lease out 40 uninhabited islands for the next five decades.

Despite these drastic measures, businessweek.com reports that European officials are unhappy at the speed at which the Greek government is offloading its assets.

They have reportedly raised about 1.8 billion euros so far, with only an additional 300 million expected to be added to this total before the end of the year. Sales have reportedly been held back by other issues, including the country’s largest ever debt restructuring and the battle to keep the Euro.

The aforementioned property sales are unlikely to be completed until 2013.

Written by Joe Elvin on behalf of Qube Global Software

While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.

Share this story
More News

Network Homes choose Qube Living | 16 August 2017

Network Homes has chosen to implement Qube Living to support its growing Build to Rent portfolio.

Qube Global Software customers shortlisted at ARMA ACE Awards | 6 June 2017

We are proud to announce that a number of our customers have been shortlisted at the prestigious ARMA ACE Awards.

Just 5% of property businesses consider themselves technologically advanced | 1 February 2017

Research by Qube Global Software reveals that only a tiny proportion of the UK’s leading property and facilities management companies believe they are harnessing technology successfully.

This website uses cookies. By continuing to browse this website you are agreeing to our use of cookies. Please see our cookie policy for more details. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close

This website uses cookies. By continuing to browse this website you are agreeing to our use of cookies. Please see our cookie policy for more details. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close