Stefanos D. Vlastos: “For the first time we are investing in our properties and acting as a
reliable partner for investors and entities”
During this year’s PRODEXPO 2022, and specifically in the “A look at investment activity in
Greece” section in which he participated, the CEO of HPPC, Stefanos D. Vlastos, mentioned
both the positive impact the Hellenic Public Properties Company has had with the use of
public real estate and the company’s outlook and goals.
The CEO of HPPC stressed the fact that HPPC is facing the challenge of having a huge
portfolio of 72,000 public properties, of which 28,500 have illegally encroached on. “We
have laid the foundations for a complete reorganisation of our Company so we can analyse
and develop our portfolio, something which should be done immediately, given that it is
decades overdue.”
He added, “In recent years HPPC has been a catalyst in terms of society and local
economies”, and mentioned the Skaramangas Shipyards and the successful and transparent
tender held by the Company on the Attika Coast where HPPC owns a very large number of
properties. He also mention the Company’s properties in urban centers and in areas of great
tourist interest.
Regarding the challenges posed by the current international situation, Mr. Vlastos noted:
“Up until now we have been on a straight path, but now we have a prolonged turn in front
of us, a huge energy crisis, European populist voices, a lack of human resources in all sectors.
However, we aim to catch the property wave.” He emphasized that “Surgically precise
moves are being made in relation to Greek State properties, and these will be of significant
benefit to local economies and societies”.
In addition, he pointed out that HPPC has changed a lot in recent years and, given that crisis
creates opportunities, the Company has turned to properties of special interest, such as
tourism, energy, hydroelectric, photovoltaic and wind projects, logistics sites and primary
sector real estate.
In closing, Mr. Vlastos underlined that HPPC functions as a reliable partner for investors and
institutions, having resolved a series of problems with institutional “players” in the market
and supported the implementation of their investment plans.
At the same time, he noted that, for the first time in its history, the Company has a new
philosophy on the basis of which it operates as a potential investor in its properties.
Examples of this are Heraklion in Crete, Vouliagmeni Beach, the Ski Center of Parnassos and
the Xenia hotel in Parnitha which will soon be put to good use for the benefit of society. He
also mentioned the historic Parliament flower stalls which were renovated by HPPC and,
now fully renovated, will shortly be opened to visitors and citizens of Athens.
In the panel “A look at investment activity in Greece” the other participants were Mr. I.
Smyrlis, Secretary General of International Economic Relations, Ministry of Foreign Affairs, I.
Ganos, CEO of Alpha Astika Akinita and Mr. Giorgos Kormas, Economist, Real Estate
Professional, and the discussion was moderated by Mr. Maximos Kalatzis, CEO of MAKT.