By Liza Jansen, CNBC.com <\/p>\n
Got some cash to spend? How about a piece of the Greek islands of Rhodes or Corfu? Or a royal palace, a marina, or even a consulate building? <\/p>\n
As Greece is struggling to appease international lenders and live up to the conditions of its bailout, the debt-choked nation is speeding up the sale of state assets by expanding its privatization program. <\/p>\n
Greeces state fund (Hellenic Republic Asset Development Fund or HRADF) now has more than 70,000 state-owned properties on offer for investors and it aims to generate 19 billion euro ($24.5 billion) by 2015 via the sales. <\/p>\n
The states properties include a 119,800 square-meter peninsula with a palace hotel complex and a marina, a 450,000 square-meter area in Rhodes with an 18-hole golf course and four miles of beach, a coastline in Corfu, an airport area in Athens and the 2004 Athens Olympics broadcast center. <\/p>\n
CNBC: Worlds biggest debtor nations <\/p>\n
Apart from land areas, Greece is also offering its government buildings. Greece's ministries of justice, health, education and culture are seeking to rent out some of their buildings, and although the country is coping with rampant tax evasion, 13 of its tax offices are on offer for privatization as well. <\/p>\n
Last week, Greece completed its first privatization deal by leasing the International Broadcast Center, used during the 2004 Olympics, to development group Lamda. The group is paying 81 million euros ($104.7 million) to lease the 73,000 square-foot area for 90 years, a price Odisseas Athanassiou, CEO of Lamda Development, said is fair. <\/p>\n
The deal made financial sense, Athanassiou told CNBC, and rejected rumors that the agreement was made to please Greeces international lenders. <\/p>\n
CNBC:Which country has the lowest debt in the euro zone? <\/p>\n<\/p>\n
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Debt-choked Greece looks to sell off islands, marinas<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" By Liza Jansen, CNBC.com Got some cash to spend? Continue reading