ECONOMY

TAIPED to auction real estate properties online

State sell-off fund TAIPED intends to electronically auction real estate properties worth between 4 and 5 billion euros, and to securitize the future revenues from some 1,000 properties, expected for the second quarter of 2014.

The fund is taking the e-auction option in order to utilize nearly half the value of the 3,000 properties that will come under its jurisdiction.

Some of them will be conceded to private investors through tenders similar to those already conducted for the International Broadcasting Center (currently the Golden Hall Mall) and the Cassiope property on Corfu.

This process will be used for properties of large size or value that require special construction permits.