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The foundations of a new HPREC

18 August 08 | C. Gratzios
C. Gratzios

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We have succeeded that in an operating level for the years 2007-2008 and with the results of 2007 we have covered the negative results of the previous three financial years", says in RE+D Mr. Constantinos Gratzios, CEO of HPREC, referring to the profits of the last financial year (­4 mln) and the expectation to surpass ­10 mln by 2010.

We have succeeded that in an operating level for the years 2007-2008 and with the results of 2007 we have covered the negative results of the previous three financial years", says in RE+D Mr. Constantinos Gratzios, CEO of HPREC, referring to the profits of the last financial year (­4 mln) and the expectation to surpass ­10 mln by 2010.

He also talks about the program regarding the accommodation of the public sector's services, as well as, the way PPPs are creating new market forces and redistribute the projects. As far as HPREC is concerned, he announces the hiring of two Financial Advisors who will be called to take over two projects: the translocation of the services of the Ministry of Foreign Affairs and the utilisation of 15 properties.


What has been left behind though is the development of large properties.
Indeed, there are at the moment two large properties, Kaimaktsalan and Gournes and their bid issues are ready for a year now, but the new management of the Prefectures that came out after the latest elections, demanded to start the talks from the beginning. We are interested in the materialization of the projects and not only in a successful bid.

So there is an issue on planning.
There is always an issue on planning. There is a problem when local authorities under the form of social benefit ask for the inclusion of projects that make the investment unsustainable. Gournes are at this point. The issues are ready; we are in discussions with the Prefecture regarding details, and if this process is concluded within July, I believe that we will be able to make the tender public.

What is the size of the investment?
The investment is ­100 mln to ­150 mln and this is estimated according to the approved PERPO (specially regulated urban planning areas) covering 70% of the area's projections.

In what way this will happen?
It will take place in two phases. In the first phase, the companies that have the relevant experience in developing and operating such projects will be called to express their interest. In the second phase, there will be a deliberation with the interested parties in order to form the best-case scenario.

The same applies to Kaimaktsalan as well?
Kaimaktsalan is a different case. There is already a ski resort which operates with the same problems all ski resorts face in Greece. They operate without permits from GNTO. Kaimaktsalan has the longest snow period in the whole of Greece. This gives it an advantage against other ski resorts. With the appropriate programming and the development of infrastructure it could operate from November up to April.

HPREC and PPP. The feeling right now is that you do everything. Is there an axis to that?
Our program had begun before 2003 and involved more than 250 projects. We found a way to group the projects through PPP. With PPP we have the potential within 25 years to operate the projects and maintain them correctly, something that is 40% more economic in maintenance.

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