BUSINESS

Church starts property concessions

By Ilias Bellos

The Church of Greece is expected to proceed with the concession of the first of its property to go under the hammer – 83,000-square meter plot at Vouliagmeni near the Astir Palace Resort – in September.

The Church’s property utilization company (EAEAP) and consultants Cushman & Wakefield will start by choosing an administrator, taking things slow despite rumors that it is eager to get the process rolling, attributed by the Athens Archdiocese to avid interest from domestic and foreign groups.

The concession of this property will be the pilot project for EAEAP. It will be conducted through an international tender, allowing only for uses that are compatible with the operation and character of the Church. Market sources suggest that the royal family of Qatar, as well as the Martinos, Prokopiou and Konstantakopoulos groups are among the suitors.

If the Vouliagmeni concession project goes well, a huge property of 1.2 square kilometers will follow, at Faskomilia, between Vouliagmeni Lake and Varkiza, in southern Attica.

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