Church developing property

The Church of Greece and state asset utilization fund TAIPED signed an agreement on Wednesday for the development of an area of some 3 square kilometers at Schisto, western Attica, bordering with Piraeus.

The property belongs to the Church, which, through its Schisto SA company, is seeking to exploit its potential in full, a project that will be undertaken by TAIPED’s Project Preparation Facility. It is an investment of 700-800 million euros, which will enable the “development of a state-of-the-art, environmentally friendly, logistics, transport and container management center and more,” Prime Minister Kyriakos Mitsotakis said at the signing ceremony.

Thanks to its location, this project by the Church reportedly includes development plans in addition to a logistics center, residences and a hotel. However, given that a masterplan for the utilization of the property has not yet been drawn up, the exact types of uses have not yet been fully clarified. To this end, TAIPED will prepare all the necessary location studies and the special development plan for strategic investments required because the project is of strategic importance.