Greece prepares 500m euros of assets for sale

[MADRID] Greece is preparing a property portfolio valued at as much as 500 million euros (S$862.5 million) to offer to investors by the end of this year, according to the head of the Hellenic Republic Asset Development Fund.

The properties will be worth at least 350 million euros and will include leased city buildings, homes and development land, Andreas Taprantzis, executive director at the fund, said in an interview in Athens. UBS AG, Deutsche Bank AG and BNP Paribas SA are advising the fund on the portfolio, he said.

The fund, which completed almost five billion euros of deals including 1.8 billion euros of real estate over the past 14 months, is tapping into renewed investor demand for Greek assets. The nation is emerging from a six-year economic crisis that almost forced it to leave the euro.