The Hellenic Republic Asset Development Fund (HRDAF) and the Hellenic Public Properties (HPPC), both member companies of the GrowthFund, signed a Memorandum of Cooperation on June 28. The goal is to speed up the development and use of important HPPC properties by sharing knowledge between the two companies, with a focus on those that are important for the national economy, tourism, and industry.

Hera Hatzigeorgiou, Managing Director of the HPPC, and Dimitris Politis, Managing Director of the HRDAF, both signed the Memorandum. The two companies will appoint a joint working group consisting of 3–5 members with commercial, technical, financial, and legal backgrounds, headed by a member of the Hellenic Privatization Fund. The managing director of the HPPC will be the group's leader.

Dimitris Politis, Managing Director of the HRDAF, said after the signing of the MoU: "The Hellenic Privatization Fund and the HPPC are joining forces for the more effective utilisation of the state's real estate assets, which can act as a driving force for the sustainable development of the Greek economy with great multiplier benefits for local communities. The HPPC has a wealth of experience in the real estate sector, as it has completed the necessary procedures for the maturation of hundreds of properties and has successfully conducted tenders for their development. We are very excited about the joint effort we are undertaking with the HPPC and believe that our cooperation will be fully beneficial and will set a positive example." 

HPPC CEO, Hera Hatzigeorgiou, said: "The signing of the Memorandum of Understanding with the Hellenic Privatization Fund is part of the new strategy we are implementing for the transformation of the HPPC and the optimal use of its portfolio assets. A strategy based on innovation, efficiency, speed, and open cooperation with stakeholders who have the potential to contribute significantly to this collective effort. In this context, our goal is to operate as a company with even greater speed and efficiency, creating added value for the Greek state's properties and benefits for the national economy and the country. We are convinced that the experience of the human resources of the HPPC, combined with the know-how and flexibility of the Hellenic Investment Fund, will soon lead to beneficial results in achieving our common goal.