“The Hellenic Republic Asset Development Fund (HRADF) has identified 40 uninhabited islands and islets, which could be leased for a period of up to 50 years and be developed as tourist resorts”, said the executive director of the Fund, Andreas Taprantzis, speaking to Bloomberg. “We have identified sites that have solid grounds, are close to the mainland, have well-developed infrastructure and do not constitute any threat to national security,” said Mr. Taprantzis in an interview on Sept. 6th at Bloomberg and published today by the agency.

“The list includes islands with an area of 500 thousand square meters to 3 million square meters, which can be used as high-level integrated resorts with a lease period of 30 to 50 years”, said the executive director of the Fund. The Fund has examined 562 of the 6,000 islands and islets which belong to the Hellenic Republic. Mr. Taprantzis said that a law should be enacted which will allow the development of public assets by third parties and will reduce the number of building, environmental and planning permits required before the project’s commencement.

The sale of islands is not an option, said Mr. Taprantzis, as in this case the revenues for the Greek government would not be greater than the revenues produced by the lease agreements. Additionally he mentioned that the attractiveness of the investment potential of these islands will be maximised if they are developed into integrated tourist resorts, adding that Greece would attract more investments, if such an island is developed as a resort.

(Source: Kathimerini)