An ambitious target for a valuation of 6,500 real estate of the State puts until 2027 the State Real Estate Management Company (EDTA), as presented during a briefing by the management of the Superfund for the Strategic Plan 2025-2027.
In fact, in order to do this, ETAD uses the most advanced technological tools, in order to “scan” the 36,000 property registrations that exist in the system.
The road ahead of the company, which is a subsidiary of Hyperfund, is an uphill one, as it is a project with particular difficulties.
It is characteristic that so far, since 2016 when ETAD joined the Superfund Group, less than 3,000 properties have been valued, with the goal for the next two years to increase the number to approximately 6,500.
In terms of financial figures, in 2016 ETAD had an annual revenue of 37.7 million. euros and equity of only 263 million euros, with consistently loss-making annual uses. At the moment, equity amounts to 1.1 billion. euros, and by 2027 they are expected to reach 2.2 billion. euro.
In this year’s first half, profits have risen to 12.4 million. euros which already correspond to 80% of the total profits of the previous year (before real estate valuation gains) and are expected to approach 60 million annually. euro.
What are the goals of the next two years, what tools are used
From the total of 36,000 properties registered in the ETAD system, the company aims to have valued about 6,500 by the end of 2027, while at the same time having obtained a clear picture of the entire portfolio.
A stage in this was the completion of the framework agreement competition and the start of the large project of recording, identification, grouping, valuation and maturation of the 36,000 properties of the portfolio, which concerns evaluation and categorization for up to 36,000 properties registrations, valuation for up to 6,500 and maturation actions for up to 1,000, as not all properties are at the same stage of the process.
To make this a reality, even artificial intelligence has been enlisted. At the moment, as Superfund officials report, 7,500 properties are already being analyzed in the system, “scanning” contracts, floor plans, etc., with unprecedentedly high speeds, so that the administration is optimistic that it will achieve its goals.
For the same purposes, ETAD cooperates with 9 private consortiums, which together with the technological tools help to categorize the properties, receiving “packages” of 1,000 properties each time.
The processes of utilization are also accelerated
The Superfund and ETAD want to step on the “gas” also in the part of the utilization of strategic properties, a process that is not always easy. And this is because many times it is necessary to consult with the local municipalities that the properties fall under, with some of them being cooperative and some not.
One such case that requires the cooperation of the Municipality is the Vouliagmeni Coast. There, ETAD is in consultation with the local bodies and in the preparation phase of the tender for its exploitation, while in Marina Zeas it proceeded with the sale of its minority interest and an increase in the rent of the property. As the officers of the Superfund report, a milestone was also the signing of the Memorandum of Cooperation between the Parliament, the Superfund and ETAD for the Revival of the Government of Thessaloniki.