NEWS

Deals to lease Olympic properties caught up in red tape

The process of turning over some of the facilities built for the Athens Olympics in 2004 to private investors is being held up because it is not clear which public service owns them, the man in charge of trying to raise investment in the properties told Sunday?s Kathimerini.

Giorgos Panayiotou, head of Olympic Properties, the state-controlled company that leases the facilities, said that two deals have been held up because it has been impossible to work out which public service needs to approve the final paperwork.

?Our employees have approached various state services, such as the Hellenic Public Real Estate Corporation, the General Accounting Office and the Culture Ministry,? he said.

?It sounds absurd but we have not got anywhere yet.?

Several of the sites, such as the badminton arena, the canoe-kayak center and the international broadcasting center have been leased to private investors.