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Catagories: REAL ESTATE
Area: Attica, Attica, Athens
Development of services regarding the Allocation Programmes and a significant widening of clientele.

The Hellenic Public Real Estate Corporation (HPREC) was founded in 1979 as a private corporation based on L.973/79. It has one share that is owned by the Greek State. It is supervised by the Ministry of Economy and Finance, and operates within the framework of the Greek Founding Legislation and specifically Law 3429/2005.

Hellenic Public Real Estate Corporation’s recent development has been characterised by:

Development of services regarding the Allocation Programmes and a significant widening of clientele.
Accelerated implementation of the Construction Programme for Governmental and Public Buildings and the provision of modern allocation services by leveraging private sector finance.

Hellenic Public Real Estate Corporation’s goals:

Efficient and programmed Administration and Management of the State’s real estate assets based on operational criteria of the private economy, while safeguarding public and social interest.
Strengthening the role of Hellenic Public Real Estate Corporation as an executive body encompassing all Allocation Programmes of the Greek Public Sector.
Increasing of the total value of the portfolio, achievement of additional value through the development and exploitation of flexible investment tools.
Implementation of new projects through the Public-Private Partnership (PPP) scheme.
Utilisation of modern financial methods (Sale & Leaseback, Sale Construct, Leaseback Operating Leasing).


Accomomodation Programmes for the Greek Civil Services

Projects Division's Activities

HPREC’s Project Division main task is to accommodate the Greek Public Sector Services. The main beneficiaries of the Accommodation Programmes are, among others, the Ministry of Public Order (Police Departments, Police Stations), various other Ministries (Merchant Marine, Labour, the General Secretariats for Information and Communication, etc.), Embassies, Consulates, Social Security Funds (TAE [Trader’s Social Security Fund], TSEYP [Social Security Fund for Press Vendors and Agencies], TEAYEK [Supplementary Social Security Fund for Retail Store Employees], TSAY [Medical Personnel Social Security and Pension Fund] etc.), the Hellenic Post, Customs Offices, and various other organizations.

The various Accommodation Programmes implemented by the HPREC involve repairs, renovations and extensions to existing privately owned buildings, the construction of new buildings on public land and the acquisition of ready or soon-to-be completed buildings or finished buildings “with turn-key solution”. In order to execute the aforementioned Accommodation Programmes, the HPREC applies the following:

With regard to the award and construction of Public Works, the provisions of Law 1418/84 and its implementing Presidential Decree 609/85 as amended, supplemented and in force, as well as the EU guidelines as adapted to Hellenic legislation.
With regard to the commissioning and preparation of studies, Law 3316/05, (as amended, supplemented and in force) and the relevant EU guidelines.
With regard to the acquisition of ready buildings “with turn-key solution”, HPREC’s Contract Internal Regulations and Decision No 1075479/1007/A0006/03 (Government Gazette 1244B´/01.09.2003) of the Deputy Minister of Finance.

Following implementation of Law 3389/05, the scope of the Project Division was also extended to PPPs, in collaboration with the Finance and Administration Division / Finance Department.


Accommodation Programme for the Ministry of Public Order

The Hellenic Public Real Estate Corporation has a vital role in upgrading Hellenic Police infrastructure, by providing a complete building programme as well as integrated accommodation services.

To date a significant Program to Accommodate Police Services has been completed, with a total value of €100 m, including the construction or purchase of police departments and stations, the building to house the Attica Division for Transfer of Aliens and the first phase of the Police Academies project in Amygdaleza, Attica.

Work is under way on the construction of the Criminological Research Division, and the Heraklion Police Station (total value €42.5 m), which are expected to be completed by the end of 2007. By 2011 work should also be completed on construction of 9 police departments, stations and other office buildings, with a total value of € 70 m.

One project given highest priority is the housing of the headquarters of the Hellenic Police Force and its executive services. It has been agreed by the Ministry of Public Order and the Hellenic Public Real Estate Corporation that it will be located in the state-owned building at 96 Mesogeion Avenue, which formerly housed the Police Academy.

Apart from its value in safeguarding historical continuity, the site also has the virtue of occupying a central position in the metropolitan area – a necessary condition given the major importance and special character of the Hellenic Police – and enjoying close links with the central departments of the National Intelligence Service (EYP) and Ministry of Justice, as well as good access by all means of public transport.

At the same site the Ministry of Public Order and the Hellenic Public Real Estate Corporation have initiated conversion of the existing complex of the former Police Academy into a museum, library, historical archive and cultural centre, where historic data will be presented.

The selected method for financing the project is the Public – Private Partnerships scheme, under the provisions of Law 3389/2005, with the contractor undertaking the Design, Financing, Construction, Maintenance and Operation of the project.


Accommodation Programme for Tax Offices and Customs Offices

In order to improve services for the public and create a more comfortable working environment for staff, the Ministry of Economy and Finance and the Hellenic Public Real Estate Corporation are planning and implementing a Program to house tax offices in state - owned buildings, constructed to the highest operational, technological and quality specifications.

At the new tax offices being constructed by the Hellenic Public Real Estate Corporation, the citizens will be able to benefit from:

A comfortable, efficient and attractive environment
State of the art air-conditioning, lighting, fire-protection and security systems
Electronic queuing system and comfortable waiting areas
Comprehensive signalling
Easy-access and toilet facilities for the disabled
Website for e-communication


Social Security Funds

Based on the provision of Laws 2217/94, 2335/95, 2579/98 and 2676/99, as well as the Ministerial Decision B1/7/4782/933/02-08-04 (Government Gazette 1225/B/10-08-04), a cooperation framework has been formed among the HPREC and Social Security Institutions (Organisations and Funds). This cooperation involves a series of actions that aim at the utilisation, modernisation, increase and management of the real estate properties of these institutions, which in many cases is very significant.
This is a mutually beneficial cooperation, through which the HPREC undertakes the completion of studies, technical projects, acquisitions and leases with a wide scope and high value, whereas at the same time the Funds acquire a reliable and capable advisor and assistant, who provides the necessary infrastructure and know-how, and is able to study, propose and implement decisions accurately. The results of this cooperation will be beneficial for all the involved parties, and as a result then, for the Greek State. It must be noted that the HPREC has been cooperating very well with the Social Security Institutions since 1995, preparing land-use studies for the real estate property of insurance organisations and undertaking projects concerning the lease and acquisition of real estate, as well as repair and construction of buildings. Examples include the following:

Renovation of the MAKEDONIA PALACE hotel in Thessaloniki, owned by TAPOTE (Insurance Fund for the Personnel of the Hellenic Telecommunications Organisation).
Land-Use Study for real estate (8-10 Voulis St. & 41 Mithimnis St. in Athens) owned by OAEE [Social Security Fund for the Self-Employed] (TAE [Traders’ Social Security Fund]).
Renovation and rearrangement of the building on the corner of 22 Akadimias and Dimokritou Streets in Athens, owned by OAEE (TAE).
Land-Use Study for five (5) real estate properties in Athens, owned by TAAS [Police Officers\' Trust Fund].
Supervision of renovation works on the ELECTRA PALACE hotel in Thessaloniki, owned by TEADY [Supplementary Social Security Fund for Civil Servants].
Study - construction and management of a new building in Pefki, owned by TSEYP [Social Security Fund for Press Vendors and Agencies].
Participation in the Special Committee formed by representatives of the HPREC, the Ministry of Economy and Finance, the Ministry of Labour and Social Protection and the Body of Sworn-In Valuers (SOE), in the framework of the general effort to improve the Rules of Investment Behaviour of Insurance Organisations, the conclusion of which produced the relevant Ministerial Decision (B1/7/4782/933/02-08-04, Government Gazette 1225/B/10-08-04).


Department of Technical Facility Management

As the government seeks to increase the productivity and competitiveness of the Greek economy, the professional maintenance and rational facility management of public real estate is both a necessity and a duty of the public administration.

Facility management covers a wide range of services, including maintenance, energy management, technical upgrades cleaning, security and operational support for government properties.
Implementing rational facility management systems ensures:
1. High availability of equipment and installations, maximizing their useful life cycle
2. Upgrading the working environment within the buildings, creating a comfortable climate and healthy conditions while ensuring the efficiency and security of the installations, which in their turn contribute to increased productivity and better protection for life and property
3. Drastic reduction in repair and replacement costs
4. Significant reductions in energy spending (electricity, oil, natural gas etc.) and in the emission of pollutant gases (CO2, CO, NOx etc.), through programmes of rational operation and maintenance of installations and management of energy consumed
5. Freeing up the staff and management of the Civil Service to concentrate on their main task of serving the community, while outsourcing the necessary facility management services to specialist private agencies
6. Efficient management of assets and creation of added value in the long term.
7. Compliance with all current laws and regulations on mandatory measures and specifications to improve health and safety of employees, building services regulation, and Directive 2002/91/EC on the energy performance of buildings.

The Facility Management Department of the Hellenic Public Real Estate Corporation has already accumulated substantial expertise and experience in the provision of administration and management services for facility management contracts.

On the basis of the opportunities created by the new law (3389/2005) on Public-Private Partnerships (PPPs), the Hellenic Public Real Estate Corporation is promoting the implementation of facility management services in the following building complexes of the Hellenic Police (EL.AS.), covering a total gross surface area of 92,000 m2:
1. General Police Division of Attica
2. The building complex for the Hellenic Police Officers Training Academy in Amygdaleza
3. The Prisoner Transfer – Resident Alien building.

The facility management budget for the above buildings, over a fifteen-year period, amounts to €36m NPV, exclusive of VAT (with an anticipated adjustment of 6% per annum to allow for inflation and the cost of capital).

A performance contract will be signed for the above buildings, following an international open tendering procedure to select a contractor, to cover the following services:
1. the operation and maintenance of the installations,
2. energy management and saving,
3. technical updates of installations to minimise depreciation of the public estates property and to create added value in the long term,
4. high standard cleaning a sanitation services.

The PPP Bi - Ministerial Committee approved, on 5 June 2006, the inclusion of the above proposal within the provisions of the aforesaid new legislation.

It is expected that the contract agreement will be awarded by the end of 2007, following an international tender procedure.


Real Estate Development Division - Main Activities

The development and utilisation of real estate that falls under the competence of the HPREC transcends the limits of a mere management task and extends to the preparation of an integrated land-use proposal that covers the whole timeframe of the investment that is to be made. The competent Real Estate Development Division has done substantial work, which includes:

The preparation of Development and Land-Use Studies for significant public real estate properties, and the preparation of Preliminary Sustainability Studies
Plans for the utilisation of real estate including the preparation of proposals for the real estate properties
The conclusion of Memorandum Agreements with agencies in the wider public sector, aiming at the development and co-utilisation of public real estate
The formulation of proposals during the preparation of General Town Plans


Real Estate Management Division – Main Activities

According to its founding law, HPREC manages the registered 72.000 assets, which are the property of the Ministry of Economy and Finance, as well as those of other Ministries or Organizations the management of which has been assigned to HPREC. Real Estate Management encompasses a multitude of properties -- such as building plots, buildings, apartments, office buildings, rural land, coastal sites e.t.c. – and includes sale, lease, acquisition and concession of properties.

Internal Audit Task Force (IATF) – Main Activities

The IATF is an independent operation activity, providing objective assurance. It reports directly to the top management of the company and performs its duties with a view to controlling all the actions and activities of every component of the organization. As a task force, it is designed to add value and help the organization achieve its aims through a systematic and disciplined approach to performance improvement, risk detection and analysis, control, governance processes, and efficacy of the services that the company provides to its clients. The IATF’s activity is, on the one hand, proactive and advisory and, on the other hand, it is one of control. It carries out ex ante and ex post controls and undertakes assessments and evaluations of the interested party’s activities and operations, suggesting corrective measures to the Management, as required.

Within such context, the IATF carries out the following controls and a combination thereof:

Financial audits, which include procedures regarding the security of the company’s assets and property and the reliability of its financial data.

Operational or procedural controls, which include the framework and procedures for checking that the employees and operations comply with the policies, regulations and operating procedures of the company.

Administrative controls, which include the organizational framework and procedures relating to the taking of administrative decisions, compliance therewith and evaluation thereof.


Public - Private Partnership (PPP) Schemes

The HPREC is the first public sector body to have taken the innovative step of utilizing modern financial tools and Public Private Partnership (PPPs) schemes for the Accommodation Programmes of the Central and Regional Ministerial Services.
The HPREC is elaborating the Strategic Planning of the Accommodation of State Agencies program, which includes Ministries, Tax Offices, Police Stations, Fire Stations, etc. The Program has a total budget of 2,2 billion €, includes 250 projects and comprises 880.000 m2 of office space. Implementation scenarios include PPP schemes as well as Sale & Lease Back alternatives, over and above the classical acquisition and construction methods.

The aims of the programme are summarized below:

• Gathering together the central services of a Ministry in a single building. The benefits thus gained from internal communication among administrative functions are self-evident.
• Guaranteeing high quality services to citizens, which is dependent upon the correct maintenance and operation of the buildings.
• Immediate implementation of new, more effective methods in a suitably designed, contemporary work environment.
• Accelerated implementation of the Allocation Programme through the participation of the private sector.

The HPREC is in the final stages of completing the Strategic Planning of the Allocation Programme, and implementation of two sub-programmes was approved by the Bi - Ministerial Committee for the Public Private Partnership projects on 6 June 2006. The first sub-programme encompasses seven (7) Fire Stations, (Alexandroupoli, Veria, Lefkada, Yiannitsa, Mesologgi, Gargaliani, Thessaloniki), while the second concerns the Technical Facility Management of four Hellenic Police building complexes, covering a gross area of 92,000 m2,

• The General Police Directorate of Attica
• The Police Cadets’ Academy in Amygdaleza
• The Police Officers’ post-training school in the same area; and
• The Aliens-Detainee Transfer building in Attica

A third sub-programme encompasses the design, financing, construction, operation and maintenance of 11 new buildings of a total area of 40,000 m2, which will be constructed in locations that are the property of the Greek State and will accommodate central and regional services of the Hellenic Police.
Another programme that is currently being developed, in collaboration with the Ministry of Public Order, is the Hellenic Police Headquarters. The programme is in the early stages and the Company has focussed on defining the technical elements of the building. All together, the offices will cover a total area of over 20,000 m2 in addition to an underground car park and other auxiliary spaces.
Other immediate priorities of the HPREC include the conversion of the former Gendarmerie Schools and Academy into a Cultural Centre for the Greek Police.
Forthcoming programmes include the buildings of the following: Ministry of Economy and Finance, General Secretariat for Commerce of the Ministry of Development, and Ministry of Public Order, with a budget amounting to 240 million €.




HELLENIC PUBLIC REAL ESTATE CORPORATION Development of services regarding the Allocation Programmes and a significant widening of clientele.
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