Founding Law

The Hellenic Republic Asset Development Fund S.A. (HRADF) was established in 2011 according to its founding Law No. 3986/2011 with an initial mandate to leverage the State’s private property assigned to it by the Hellenic Republic. HRADF operates to serve the public interest, according to the rules of the private economy. The utilization development and utilization of public property are implemented in accordance with the prevailing market conditions and with guarantees of full transparency. HRADF adopts and implements the Asset Development Plan (ADP), which is reviewed every six months and is authorized by the Government Council for Economic Policy (KYSOIP). In addition, HRADF is assigned the maturation of contracts that are part of the Development Programme for Contracts of Strategic Importance. Therefore, maturation services, carry out the tender process and supervise the implementation stage for projects of strategic importance, which are classified as part of the “Strategic Project Pipeline” (SPP), will be provided through a discrete operational unit at HRADF, the Project Preparation Facility (PPF), in order to be a clear distinction from the state-asset development role it has pursuant to Law 3986/2011. In pursuing the purpose of the Fund, particular care shall be taken to contribute to the achievement of the objectives of the Europe Green Agreement and the 17 Sustainable Development Goals (SDGs) of the United Nations. HRADF’s sole shareholder is the Hellenic Corporation of Assets and Participations (HCAP). In the context of ensuring absolute transparency, the Fund publishes quarterly reports, has internal procedures and policies, a published Procurement Regulation, and internal and external auditors. HRADF has received by TÜV AUSTRIA HELLAS four ISO Certifications:
  • ISO 9001:2015 – Quality Management System.
  • ISO 27001: 2013 – Information Security Management System.
  • ISO 22301: 2019 Business Continuity Management System.
  • ISO 37001: 2016 Anti-Bribery Management System.
Experienced professionals manage HRADF from the banking, business, consultancy, and legal services sectors, aided by a Council of Experts. Also, experienced international consultants are recruited for each project. It has the most developed project management systems at its disposal and has adopted a simple organizational structure to facilitate the immediate decision-making process. All announcements, documents, and information relating to HRADF and its Program will be published on the Fund’s website to achieve full transparency in terms of its procedures and keep the respective stakeholders updated.