What Hellenic Public Properties Co. does

Hellenic Public Properties Co. (HPPC / ΕΤΑΔ Α.Ε.) is a Greek state-owned enterprise entrusted with the management, exploitation, and development of the Hellenic Republic's private real estate portfolio. Established in 2016 under Law 4389/2016 through the merger of four predecessor entities (Hellenic Tourist Properties, Olympic Properties, Public Real Estate Company, and Attica Coastal Front), HPPC operates as a 100% subsidiary of the Hellenic Corporation of Assets and Participations (HCAP/Growthfund), the Greek sovereign wealth fund. The company is headquartered in Athens (Voulis 7) and operates under public-interest principles while applying private-economy management rules.

The company's core offering is the operation, leasing, and disposal of a large and geographically diverse portfolio spanning historic Xenia hotels (26 leased units), coastal and beach assets (including the award-winning Vouliagmeni Blue Flag beach), cultural heritage monuments (Achilleion Museum, Bourtzi Fortress, Diros Caves), ski resorts (Parnassos with 34 km of slopes across 23 runs, and Voras-Kaimaktsalan), thermal spas, marinas (5 leased), and miscellaneous urban and agricultural properties. Property transactions and long-term leases (typically 15–40 years) are executed through a dedicated electronic auction platform, e-publicrealestate.gr, complemented by a Geoportal for spatial asset data and the eservices.hppc.gr digital services portal. CAPEX is partially funded through EU co-financing under NSRF 2014–2020 and the Greece 2.0 National Recovery and Resilience Plan, with disclosed project allocations exceeding €25M across Achilleion, Diros, Parnassos, Fanari, and Lake Kaiafas.

HPPC's revenue model is hybrid: one-time property sales, recurring long-term lease and concession income (hotels, marinas, campgrounds, coastal land), and direct tourism operations (ski admissions, beach entry, museum tickets, ancillary F&B). Pricing ranges from €8K to €150K+ in auction starting prices for real estate, to €7 per person for Bourtzi Fortress admission. The company serves four primary segments: private hospitality investors and operators (B2B), property buyers and developers (B2B), government and public sector bodies (heritage and tourism initiatives), and individual consumers/tourists (visitor-facing destinations). It is strategically governed by a nine-member Board chaired by Dimitrios Politis, with CEO Iro Hadjigeorgiou leading execution.

Name

Hellenic Public Properties Co.

Legal name

Εταιρεία Ακινήτων Δημοσίου Α.Ε. (Hellenic Public Properties Company S.A.)

Website

https://hppc.gr

Company type

Private

Founded year

2016

Operating status

Operating

Short description

Greek state-owned enterprise managing, leasing, and disposing Greece's private public real estate portfolio — including 26 Xenia hotels, ski resorts, marinas, beaches, and heritage museums — on behalf of the sovereign Growthfund (HCAP), serving private investors, hospitality operators, and tourists.

Ownership category

akta.pro rank

Product category

Public Real Estate Asset Management

NAICS

Real Estate Property Managers (53131), Other Investment Pools and Funds (5259)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Public Asset & Investment Management (BPAIAEAG)

akta.pro secondary industries

Affordable & Public Housing Asset Management (BPAJAMAI), Real Assets — Social Infrastructure / PPP (Schools, Hospitals, Government Facilities) (FSAHAIAH), Real Assets — Infrastructure (Core/Core+, Brownfield/Greenfield) (FSAHAIAC)

Keywords

• Public real estate management
• State property leasing
• Electronic auction tenders
• Tourism property concessions
• State asset development

Headquarters

HQ city

Athens

HQ country

Greece

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Revenue model

1. Property Sales: ETAD sells state-owned real estate assets through competitive tender and auction processes, generating one-time capital receipts. Properties listed for sale include urban plots, historic buildings, and land parcels across Greece.
2. Property Leasing & Concessions: Long-term leases (typically 15–40 years) of state properties including historic 'Xenia' hotels, coastal land, campgrounds, and commercial spaces. Short-term event venue rentals also generate recurring revenue.
3. Tourism & Visitor Operations: Direct operation of visitor attractions including ski resorts (Parnassos, Voras-Kaimaktsalan), Vouliagmeni Beach (award-winning Blue Flag beach), Achilleion Museum (Corfu), Bourtzi Fortress (Nafplio), and Diros Caves. Revenue from admissions, food & beverage, and ancillary services.
4. Marina Operations: Management and operation of 5 leased marinas providing berth rental revenue.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Hellenic Public Properties Co. (HPPC/ETAD) manages and develops private real estate assets owned by the Greek State, including tourism properties such as ski resorts, organized beaches, and marinas, as well as cultural assets such as museums and fortresses. The company monetizes these assets primarily by tendering them via an electronic auction (e-auction) platform for long-term lease, concession, and use rights to private investors and operators.

Product overview

HPPC operates as a diversified public real estate management company offering a portfolio of business units and digital services. The core offering comprises e-publicrealestate.gr, an electronic auction platform for property tenders, complemented by physical business units including two ski resorts (Parnassos and Voras-Kaimaktsalan), coastal facilities (Vouliagmeni Beach), cultural heritage sites (Achilleion Museum, Bourtzi Fortress, Diros Caves), and the Kyvernio cultural multipurpose venue. Supporting services include property portfolio management, short-term rental of event venues, and EU co-funded development projects. The company also provides digital access through its eservices portal.

Differentiator

Problem solved

Functional benefit

Products and services

• Electronic Auction (e-auction) Property Tenders An online electronic auction platform that tenders long-term lease, concession, and use rights over Greek State-owned real estate assets to qualified private investors and operators through transparent competitive bidding.
• Ski Resort Concessions Long-term operating concessions of Greek State-owned ski resorts, granted via e-auction to private hospitality and tourism operators.
• Organized Beach Concessions Concessions of Greek State-owned organized beaches, tendered to private operators for the development and operation of beach tourism services.
• Marina Concessions Long-term operating rights over Greek State-owned marinas, leased to private operators for yachting and marine tourism services.
• Museum and Fortress Concessions Concession-based operating rights over Greek State-owned cultural assets, including museums and fortresses, tendered for cultural tourism and visitor services.
• Long-Term Real Estate Leasing Long-term leases of Greek State-owned commercial and other real estate assets to private tenants, awarded through the company's electronic tendering process.

Quantifiable outcome

• Operates 26 leased hotel units and 5 leased marinas as part of its managed portfolio
• +3 more outcomes

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• LAMDA Flisvos Marina and NOPF (Naval Olympic Flisvou Club)coreStrategic or Co-development Partner · 9 July 2026ETAD, LAMDA Flisvos Marina, and NOPF opened a new chapter of cooperation at Marina Flisvou, jointly developing the marine facility.
• MECCANICA GROUP S.A.coreChannel Partner/ Reseller/ Distributor · 26 June 2026MECCANICA GROUP S.A. was announced as the highest bidder (winner) for the 40-year lease of Xenia Komotini, a historic hotel property managed by HPPC for tourism utilization.
• Xenia Karterou (Long-term Lessee)coreChannel Partner/ Reseller/ Distributor · 5 June 2026HPPC signed a long-term lease agreement for Xenia Karterou, transferring operational responsibility for the historic hotel to a private lessee.
• Domes ResortscoreChannel Partner/ Reseller/ Distributor · 3 June 2026HPPC signed a lease agreement for the historic Xenia Ouranoupolis with Domes Resorts, transferring 40-year hospitality operation rights.
• OTUS I.K.E.coreChannel Partner/ Reseller/ Distributor · 27 May 2026OTUS I.K.E. declared final bidder for Xenia Vytina (40-year lease), a historic hotel property in Arcadia managed by HPPC.
• COSTA PALLAS S.A.minorChannel Partner/ Reseller/ Distributor · 20 May 2026COSTA PALLAS S.A. declared winning bidder for the lease of Brunetti House, a historic property offered through HPPC's e-auction process.
• Patriarchate of Alexandria & All AfricacoreChannel Partner/ Reseller/ Distributor · 4 March 2026HPPC signed a 20-year concession lease of the historic Averofeio Girls' School in Alexandria, Egypt, to the Patriarchate of Alexandria & All Africa for use as a Higher School of Philosophical and Humanities Studies.
• Hellenic Parliament, Growthfund (Hellenic Corporation of Assets and Participations)coreStrategic or Co-development Partner · 1 June 2024In June 2024, the Hellenic Parliament, the Growthfund (HCAP), and ETAD signed a Memorandum of Cooperation for the sustainable utilization of the Kyvernio (Government House) in Thessaloniki, transforming it into a multipurpose public cultural space hosting art exhibitions, concerts, and conferences.
• Ministry of Culture & Sports (YPPO)coreStrategic or Co-development PartnerHPPC cooperates closely with the Ministry of Culture & Sports for the restoration and reuse of heritage monuments in its portfolio, including Bourtzi Fortress (Nafplio), Achilleion Museum (Corfu), and Diros Caves. The Ministry serves as co-beneficiary in NSRF co-funded projects.
• Ministry of TourismcoreStrategic or Co-development PartnerThe Ministry of Tourism co-finances and partners on HPPC heritage and tourism projects, including thermal spa restoration and eco-tourism development initiatives.
• Region of Ionian IslandsminorStrategic or Co-development PartnerCo-beneficiary in the Achilleion Museum restoration project (Phase II) under the Ionian Islands 2014–2020 Operational Programme.

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• CBRE Group: World's largest commercial real estate services firm, offering valuation, asset management, and transaction advisory. Comparable in the real estate services and asset management layer, though operating as a private services firm rather than a principal/investor.
• Prologis: Global REIT specializing in logistics and commercial real estate. Comparable as a large-scale institutional real estate operator, though focused on industrial/logistics rather than tourism/heritage assets; useful as a benchmark for real estate asset management scale.
• TUI Group / TUI Hotels & Resorts: Global tourism operator running hotel and resort portfolios. Comparable as a large-scale operator of branded hospitality assets, providing a benchmark for the operating economics of leased hotel portfolios that HPPC tenders to private operators.

Emerging players

• Domes Resorts: Greek luxury hospitality operator that took the 40-year lease of HPPC's Xenia Ouranoupolis (June 2026). Comparable as a participant in the same historic-hotel lease concession ecosystem, representing the private investor counterparty profile HPPC targets.

Direct peers

• France Domaine (Direction de l'Immobilier de l'État): French state real estate directorate within the Ministry of Economy, managing and valorizing state-owned real estate assets. Comparable mandate as a public-sector portfolio manager with leasing, sales, and concession authority over national real estate.
• Hellenic Republic Asset Development Fund (HRADF / TAIPED): Sister Greek state-owned entity under Growthfund/HCAP, also managing and divesting Greek state-owned assets. Directly comparable in mandate, governance, and ownership structure, though TAIPED focuses more on privatizations while HPPC manages long-term exploitation of public real estate.
• Bundesanstalt für Immobilienaufgaben (BImA): Germany's federal real estate agency managing and disposing of federal properties. Closely comparable in role — a state-mandated exclusive manager of government-owned real estate, including heritage and special-use assets, with portfolio oversight functions similar to HPPC.

Regional players

• Cassa Depositi e Prestiti (CDP) Real Estate: Italian state holding company managing public real estate and infrastructure assets. Comparable as a state-owned asset manager operating at national scale, though broader in scope (also including credit, equity, and infrastructure finance).
• LAMDA Development: Largest Greek real estate developer, active in commercial, tourism, and mixed-use developments. Comparable in operating geography and in working with HPPC's leased marina assets (LAMDA Flisvos Marina partnership); serves as both a competitor for prime Greek real estate opportunities and a partner.
• State Property Agency of Bulgaria: Bulgarian state entity managing state-owned real estate. Operates a comparable Southeastern European public real estate mandate, though on a smaller scale and without the tourism/visitor operation components of HPPC's portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/HellenicPPC
• YouTubeyoutube.com/channel/UCVGMbFWvTd1Smd2KGUGulcQ
• LinkedInlinkedin.com/company/versatile-real-estate-solutions

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hellenic Public Properties Co.