The PUBLIC PROPERTIES Co. (PPCo S.A.) is a corporation with the mission of developing and managing the private state-owned properties. The Company is 100% owned by the Greek State and is supervised by the Ministry of Finance.
PPCo S.A. manages a real-estate portfolio which boasts 210 diverse tourism properties throughout Greece, such as the former Xenia Hotels, Marinas, Camping Sites, Golf Courses, Ski Centres, Museums, Caves, Tourist Kiosks, Hot Springs and also large areas of land with excellent prospects for tourism development, 8 Olympic Properties, as well as approximately 70,000 titles of properties owned by the Greek state and 1,052 properties which belong to the Hellenic Republic Asset Development Fund (HRADF).
Within this framework, PPCo S.A. is involved in the:
- Management/Administration of public properties (tourism properties, Olympic properties, urban, rural and other properties).
- Contract management of real-estate leases and concessions.
- Management and operation of tourism business units (marinas, beaches, hot springs, etc.).
- Leasing of properties in combination with private investments, through tenders.
- Real-estate development by co-financed programs.
- Short-term lease of facilities and outdoor areas throughout Greece for various events (exhibitions, concerts, congresses, workshops, receptions, etc.)
- Participations (equity participation in corporations for the development of tourism properties).
The priority of PPCo S.A. is the management and exploitation of its properties with modern finance tools, in line with its objectives and the country’s development policy’s goals, thus contributing to the development of the economy, tourism and local communities. The goal of the Company is to attract private investments and promote public and private sector synergies, taking into account the protection of the environment in the cooperation with the local stakeholders.
Public Properties Company S.A. was established in 1998, under Law 2636/1998, initially as “Company for the development of GNTO’s property”.
In 2000 under Law 2837/2000, it was renamed to “Hellenic Tourist Properties S.A.” and later, in 2004, under Law 3270/2004 it was renamed to “Tourism Development Company S.A.“.
In 2011 it acquired Olympic Properties S.A. and was renamed under article 47 of Law 3943/31.03.2011 to “Hellenic Tourist Properties S.A.” while in December of the same year, it acquired the Hellenic Public Real-Estate Corporation S.A. under the provisions of Law 4002/2011 together with Joint Ministerial Decision protocol number Δ6Α 1162069 ΕΞ 2011 (Official Government Gazette 2779/Β/ 2.12.2011), under the new name Public Properties Company (PPCo) S.A.
In 2015, under par. 1 of Article 24 of Law 4321/2015 (Official Government Gazette 626 / B / 16.4.2015), PPCo S.A. absorbed the company named “ATTICA COASTLINE S.A.”