Assets held by Greece’s privatization agency (HRADF) slowly being whittled down – as planned – through sales and long-term concessions granted via tenders to private interests, with the 2024 draft budget showing total expected revenues for the 2020-2026 period exceeding 7.77 billion euros.
The listing of dozens of state assets with the agency, officially known as the Hellenic Republic Asset Development Fund (HRADF), and the generation of revenue from their sell-off or leasing was a memorandum obligation for Greece.
The two most prominent long-term concessions finalized over the recent period were the Attiki Odos tollway in greater Athens, which fetched an offer of 3.27 billion euros, and the Egnatia tollway that runs across the breadth of northern Greece, with the winning tender bid reaching 1.35 billion euros. Both successful tenders for the already mature toll highways were completed in 2024, and comprised 60 percent of HRADF’s revenue for the year.
The next assets in the fund’s portfolio up for privatization are expected to yield much less revenue, with the draft budget listing 173.29 million euros in 2025, down from a sizable 5.77-billion-euro figure for 2024.
Next up on the selling block, according to reports, is a further flotation of HelleniQ refinery group’s shares on the Athens Stock Exchange (ATHEX), as well as a public offering for a 20-percent stake in the Athens International Airport (AIA) and several lesser properties.
The AIA public offering is expected to come in early 2024 and bring in roughly 800 million euros.
The most prominent privatizations for 2025 and 2026 are the port authorities for Lavrio and Rafina, two small but busy ports in the wider Athens area (Attica prefecture).