22/01/2026
HPPC: Contribution of Surface Rights over the “Dilaveri Estate” Property to North Star Entertainment
HPPC participates in North Star Entertainment’s share capital increase through an in-kind contribution, maintaining its stake in the Project Voria investment.
The Hellenic Public Properties Company (HPPC), a subsidiary of the Growthfund and a 48.95% shareholder in North Star Entertainment, announces its participation in the Project Voria investment by granting to North Star, for a period of sixty (60) years, the surface rights over the “Dilaveri Estate” property as an in-kind contribution within the framework of the company’s share capital increase.
Following the rejection by the Council of State of the annulment applications filed against Presidential Decree 36/2023, HPPC proceeded with the acquisition of the “Dilaveri Estate” property in Marousi, where the casino will be relocated, in accordance with the Presidential Decree. Following the successful completion of the required pre-contractual audit, HPPC’s participation in North Star Entertainment’s share capital increase is concluded with the signing today of the agreement for the contribution of the surface rights over the aforementioned property.
This strategic decision safeguards the public interest by preserving HPPC’s participation in a large-scale, long-term urban investment with significant expected added value, which would otherwise be diluted. At the same time, HPPC acquires a significant asset that will revert to the State for further development upon the expiration of the granted surface rights.
Project Voria constitutes a complex investment scheme expected to generate multiple layers of value for HPPC and the Greek State and now enters the implementation phase. The investment, with a budget exceeding €380 million, αφορά the development of a high-quality, multi-purpose destination addressing key needs in hospitality and entertainment infrastructure, while enhancing and upgrading the tourism offering and business activity in the Northern Suburbs and the wider Attica region.
The project is also linked to the relocation of the casino from Mont Parnes to Maroussi. This relocation will release the Parnitha asset, which, following the full reconstruction of the Mylonas Tower and landscape restoration at the expense of the private shareholders—as provided for in the Presidential Decree—will return to HPPC, creating new opportunities for the development of a high-value public asset.
HPPC remains committed to creating long-term value for the national economy and society, leveraging its real estate portfolio through modern tools and with a strong sense of institutional responsibility.
