Hellenic Republic Asset Development Fund (HRADF)
Total Page:16
File Type:pdf, Size:1020Kb
A) Corporate Portfolio http://www.hradf.com/en/corporate B) Land Development http://www.hradf.com/en/real-estate C) Infrastructure http://www.hradf.com/en/infrastructur e 1 A) Corporate Portfolio The Hellenic Republic’s extensive corporate asset portfolio includes assets from sectors such as gaming, banking, heavy industry and energy. These assets are in the process of being transferred to HRADF for privatization. The aforementioned assets include part or all of the Greek state’s share in the following corporations: State Lottery Tickets Public Gas Corporation SA (DEPA) Hellenic Football Prognostication Organisation SA (OPAP) Hellenic Horse Racing Company SA (ODIE) Hellenic Defence Systems SA (EAS) Hellenic Petroleum SA (HELPE) Hellenic Post (ELTA) Hellenic Casino of Parnitha (HCP) Hellenic Vehicle Industry SA (ELVO) LARCO 2 Public Gas Corporation SA (DEPA) DEPA is the incumbent natural gas importer and distributor. It sources gas from a number of suppliers through long-term supply contracts and provides approximately 90% of the gas consumed in the country. DEPA holds 100% of DESFA, which holds, operates and develops the National Natural Gas Transmission System. DEPA also holds a 51% interest in the Gas Distribution Companies of Attica, Thessaloniki and Thessalia, which supply retail clients in their respective regions. The Hellenic Republic holds 65% of DEPA, with the remaining held by Hellenic Petroleum SA. The Hellenic Republic has appointed UBS, Rothschild and Alpha Bank as financial advisors as well as Koutalides Law Firm and Clifford Chance as legal advisors to assist with the privatisation. For more information you can visit DEPA website at http://www.depa.gr 3 Hellenic Petroleum (HELPE) HELPE is the leading oil refiner and distributor in Greece and a significant player in the Southeast European market. It operates three refineries in southern and northern Greece which cover approximately 70% of the country’s refining capacity, and a refinery in FYROM. Apart from ex-refinery sales to retail companies HELPE is also active in fuel retailing in Greece where it holds a c28% market share and abroad in Cyprus, FYROM, Bulgaria, Serbia, Montenegro and Albania. Additionally, HELPE holds stakes in the incumbent natural gas distributor and a joint venture in power generation, and operates Greece’s sole petrochemicals plant. The Hellenic Republic holds 35.5% of HELPE, which is listed in the Athens Stock Exchange and has appointed UBS and Nomura as financial advisor and KGDI Law firm and Baker & McKenzie as legal advisors to assist with the privatisation For more information you can visit Hellenic Petroleum website at http://www.hellenic- petroleum.gr 4 Hellenic Defense Systems (EAS) Hellenic Defense Systems S.A. (EAS) was established in 2004 by merging “Greek Powder & Cartridge Company SA” ( known as “PYRKAL”) and “Hellenic Arms Industry SA” (known as “EBO”). EAS is a State owned company group active primarily in the defence sector (manufacturing and assembly of infantry weapons, anti-tank and missile systems, small and medium calibre ammunition, artillery ordnance), and secondarily in the civil sector (manufacturing of commercial explosives, hunting rifle ammunition, metal constructions and boilers). The Company operates five (5) manufacturing facilities in Greece equipped with technically advanced machinery. It complies with the AQAP 2110 NATO quality standard. Since its founding, EAS has entered into significant international co-operation agreements with major factors in the global defense industry, particularly in the R&D and manufacturing fields. Following long-term co-production activities under strict quality and compliance standards, EAS is now an acknowledged partner in the international defense industry. 5 B) Land Development The Hellenic Republic Asset Development Fund has launched a very ambitious project for the exploitation the Greek public sector’s private properties, aiming to generate proceeds of €25 bn euro. The scope encompasses more than 70.000 properties of the public sector that are currently managed/owned by public real estate companies (KED, ETA), DEKO and by various Ministries. Properties will be assessed and selected for exploitation on the grounds of general criteria (Free Properties, Urban Properties, Non-urban Properties > 1.000 m2) and commercial factors (size, location, basic legal commitments, potential property uses). Development strategies will be designed for single assets and/or portfolios of assets that will emerge from this process. 6 Kassiopi, Corfu General Information Location Adjacent to the Kassiopi peninsula, Island of Corfu. Sea-front property situated c. 38 km north of the city of Corfu and its International Airport. The total number of foreign visitors to the Island exceeds 700,000 on an annual basis according to the Hellenic Chamber of Hotels. The majority of visitors are British, followed by Germans and Russians. The average tourism period is 5 months (May – September), the peak tourist season being July-August, while Greek Orthodox Easter is also considered a peak season given the traditional festivities taking place in the island. Size The surface of the property is c. 490,000 sq.m, (120.83 acres), more than half of its area covered by a private woodland including a small natural lake. The exploitable area is approximately 178,000 sq.m. (44.06 acres). The coastline frontage of the property is approximately 725m. Project Development Concept The property enjoys great natural beauty, located on a largely undeveloped part of the island of Corfu. Considering the site’s location in close proximity to very exclusive properties such as the Rothschild Estate, its development potential and thus implied value could be extremely high. The property is offered for exclusive use as well as for development of an upscale residential complex, focusing on vacation villas and hotel / leisure facilities. The Hellenic Republic intends to proceed with all required actions promoting the exploitation and development of the land. 7 Afantou, Rhodes General Information Location The Afantou property consists of two neighbouring beachfront land plots located in the Afantou area of the island of Rhodes. The Rhodes International Airport, the city of Rhodes and the Rhodes Hospital are only 20km away. Both plots are very close to the Rhodes-Lindos Highway, the major road artery of the island. The property is situated in close proximity to very important tourist destinations of the island such as the famous Tsampika and Kolympia beaches. According to the Civil Aviation Authority-Rhodes International Airport, the island catered to a total of 3,473,000 International Passenger traffic in the year 2011, in addition to the 673,000 domestic traffic. These figures are further increased by the traffic at the port of Rhodes that in the same year amounted to 1,042,000 passengers. The majority of international arrivals come from the United Kingdom, closely followed by Germany, Italy, Russia and Sweden. Currently only one 5-star Hotel and one 4-star Hotel are operating in the Afantou beach area while the majority of the tourist accommodation is provided through guest rooms, villas and studios. Hotel operators such as Sheraton, Aldemar, Acquis, Grecotel and Louis have a strong presence on the island. Size The combined surface of the land plots is c. 1,858,000m², part of the property (c. 450,000 sqm) currently encompasses an 18-hole Golf course designed by Donald Harradine, which has been in operation since 1973. The coastline frontage is approximately 7km. Project Development Concept The property has the potential to be developed into a large scale integrated tourism, leisure, residential project around the existing golf course on a well established vacation destination such as Rhodes. The HRADF intends to proceed with the necessary steps set out in the new legal framework to enable the development of the property. 8 Astir Vouliagmenis General Information Location On a peninsula by the sea, known as “Mikro Kavouri”, in Vouliagmeni, Athens. Situated 20 km from the Athens centre and 25 km from the Athens International Airport. The adjoining properties are the Astir Palace hotel complex (owned by the National Bank of Greece – NBG) and the Vouliagmeni Marina (in the process of privatisation by ETAD; Contractor is the Astir Palace group).The nearby Lemos area is the highest priced residential area of Athens. Size 119.800 sq.m. (exploitable approx. 111.942 sq.m.) Project Development Concept The overall property has the potential to be further developed into a large scale integrated tourism / leisure / residential project around the existing hotels on a prime property. HRADF intends to proceed with the necessary steps set out in the new legal framework to contribute in the development of the property. 9 Thermal Springs Wellness & Thermal Tourism Greece is endowed with natural mineral springs and geothermal waters which form an integral part of the country’s national wealth. Their therapeutic properties are well recognized since ancient times, offering treatment opportunities for various ailments in a natural way (hydrotherapy). Thermal springs have long been associated with improving mental and physical health and many popular tourism developments have evolved around these natural resources. Increasing demand for authentic health and lifestyle experiences based on geothermal and natural mineral water resources, has created the opportunity for Greece to become an international wellness destination. Thermal Springs in