Intense interest by investors for land on the island of Rhodes

Intense interest by investors for land on the island of Rhodes


By Spiros Sideris – Athens

The investors’ interest for the exploitation of the area of ​​Afandou on the island of Rhodes surpassed the market expectations.

According to the announcement of the Privatization Fund, four investment groups submitted binding offers for the use of property in Afandou in Rhodes. More specifically, the companies are:

· Aegean Sun Investments Limited

· Dimand SA Development and Real Estate and Construction Services and Holdings

· M.A. Angeliades Inc.

· I. Chatzilazarou Companies

The Board of HRADF will decide at the next meeting on the validity of the bids of the tenderers, upon the recommendation of the financial and legal advisors and will then proceed to the opening of the envelopes containing the financial offers.


As noted, the use of public assets through the innovative online platform e-auction and website continues with the entry of new properties.

There are 26 properties in total, 12 of which are located in the historical district of Plaka, of the Athens Municipality. Given the specific cultural characteristics of the region, HRADF pioneers with exploitation of these properties via surface rights for 99 years, so after the end of the said period, ownership of the property to return to the Greek State.

Considering that among the properties are included several unfinished and abandoned buildings, their utilization will significantly upgrade the area of Plaka, with significant benefits for both the cultural heritage and the further upgrade of the residential and tourist area.

The remaining 14 properties that are utilised through the platform, concern buildings and land in coastal areas of the country.