Formed a high -profitable group and removed those who did not respond
The landmark year was 2024 for the Public Real Estate Company (ERAD)- its subsidiary Supreme- signaling a period of dynamic development, strategic investment and emblematic projects. At the same time, a significant improvement in its economic sizes was achieved, which translates into substantial support for the national economy and society.
As announced by the company, during 2024 the implementation of 5 flagship projects was launched where many of them had been “frozen” for decades and were waiting for them.
Specifically they were launched:
-The exploitation of the Thessaloniki Government, with the signing of MOU Cooperation between the ERDA, the House and the Presidency of the House. The project has already completed the studies of building and environment, static adequacy and geotechnical research studies.
-The reconstruction of Achilles in Corfu, with the designation of the project as “strategic importance” and the completion of the bidding process for the selection of studies updating.
-The upgrading of Diros caves, with the designation of the project as “strategic importance” and the completion of the update of studies.
-Upgrading the Parnassos Ski Center, with the completion of auction issues and the approval of a subsidy by the recovery fund of EUR 8.7 million
-The integration of the Olympic property- Tae Kwo Do- in the plan of the total regeneration of the Faliro Bay, in collaboration with the Attica Region.
The rapid implementation of the above is the crowning of a systematic corporate consolidation process and reorganization of structures and services. At the same time, the removal of chronic problematic leases, debt clearances and review of the company’s financial relations was achieved, gaining significant receipts from previous years totaling EUR 7 million.
Thus, with this new strategy, the ERDA has managed to significantly increase its financial size. Specifically, operating revenue amounted to € 68.8 million, up 8% from the previous year, while EBITDA almost doubled, reaching € 25 million. At the same time, the reduction of operating costs by 11.5% has contributed to further improvement of the company’s profitability (data is proforma as financial statements for 2024- may not be completed).
Improving the operational results of the ERDF was recognized for the first time positively by European institutions through the European Commission’s post -transcriptive supervision report, confirming the significant transformation course of the company.
At the same time, the focus of the company’s strategy is to strengthen its relationship with society and local businesses. Recognizing its dual role- both as an administrator of significant real estate and as a development factor- the ERAD adopted a new way of approaching and partnership with local communities. Starting with the Thessaloniki Government, he had productive dialogue with bodies and residents in order to record the needs so that the optimum sustainable exploitation plan of the property could eventually be formed. At the same time, projects such as the restoration of the Italian barracks in Chania and the Dukissis Placentia Mansion- which for many years have been seeking a solution- now and in cooperation with local bodies are attributed to their residents, with the aim of conservation of cultural heritage and strengthening them. Local economy.
Finally, by proceeding with targeted attraction of market executives, the company set up a high -profitability team and removed those who did not meet the new demands. These moves had a direct impact on its overall culture, with the Trust Index GPTW increasing by 30%, proving to enhance the confidence and commitment of workers.
