Greek government plans mass sale of state property

The Greek government’s sale of state assets and real estate represents a long-term opportunity for international investors partly because of the country’s attraction as a tourist resort, said Constantinos Michalos, President of the Athens Chamber of Commerce & Industry.

The government will outline a plan to raise 50 billion euros ($70 billion) in state asset sales and real estate ventures by the end of the month, the Greek Finance Ministry announced on March 13.

"Greece continues to have geostrategic advantages as well as offering investment opportunities,” Michalos said at a conference in Athens today organized by the Greek-Russian Chamber of Commerce. Russian investors may be especially attracted by the sale of real estate that will enable hotel complexes and theme parks to be expanded, he said.

Source: Bloomberg