Following its recent expansion through the integration of HRADF[1] and HFSF, Growthfund has become a central development institution creating economic and social value for the country. The Group’s portfolio is worth approximately €12 billion and spans 11 key sectors of the Greek economy, from energy and water management to ports, transport, logistics, banking and real estate.
Growthfund’s strategy rests on three pillars:
Transformation of public companies to bring them in line with private-sector standards, delivering better services to citizens and sustainable results.
Development of national infrastructure assets – airports and ports, infrastructure, energy and water management – so that they are ready to be developed through concessions, privatisations or the entry of strategic investors.
Investment in high value-added New Economy projects through a comprehensive platform of investment vehicles.
Growthfund’s Project Preparation Facility (PPF)
The Project Preparation Facility (PPF), an agile and independent unit within Growthfund, acts as an accelerator for preparing and delivering projects of national importance, working with a wide range of ministries and public bodies.
Since its establishment in 2021, the PPF has been entrusted, on behalf of the Hellenic Republic, with tendering projects worth more than €10 billion in total.
In all, more than 80 strategic projects, comprising over 900 tender procedures, have been assigned to the PPF.
Working with transparency, speed and efficiency, it has already tendered projects worth €4.25 billion. For Recovery and Resilience Facility projects in particular, the PPF has completed 598 tender procedures and contracts with a total budget of €2.5 billion.
Through its tenders, the PPF has achieved savings of more than €150 million from contractor discounts on Recovery and Resilience Facility projects. These savings are being reinvested in new projects, further increasing the PPF’s development impact.
With its experience, expertise and agility, the PPF also acts as a genuine partner and accelerator for Growthfund and its subsidiaries, helping to tackle long-standing bottlenecks that have held back their transformation in the past.
It supports the preparation, technical groundwork and tendering of complex projects, helping to speed up their delivery and maximize their value for society and the market.
On behalf of Growthfund subsidiaries, the PPF has already taken on the preparation and/or tendering of strategic projects such as the logistics centre at Gonou for GAIAOSE, the technical preparation and tender for the redevelopment of the Thessaloniki International Fair (TIF) site, and studies for AEDIK (Corinth Canal) and GAIAOSE.
In this way, the PPF not only significantly accelerates major investment and development projects on behalf of the Greek State but also builds expertise within the Growthfund Group, promoting a modern, efficient and strategic model for planning and delivering projects.
Public health infrastructure
On behalf of the Ministry of Health, the PPF is delivering the largest-ever program to upgrade and expand National Health System infrastructure.
Tenders have been completed to upgrade 93 hospitals and 163 health centers, with a total budget of €493 million and savings of around €28 million.
More than 15 facilities (hospitals and health centers) have already been handed over, substantially improving the quality of public health services.
By June 2026, all works under this largest-ever National Health System infrastructure upgrade program will have been completed.
AIGIS
The PPF tendered, quickly and transparently, all (100%) of the AIGIS program projects assigned to it by the Ministry of Climate Crisis and Civil Protection.
More than 100 contracts worth €1 billion have been signed with over 50 different contractors.
For the first time, the program takes Greece to the international market for large-scale procurement of civil protection equipment through fully transparent and open procedures.
The largest AIGIS contract, worth €311.2 million in total, covers the procurement of 8 medium-sized Airbus H[1] firefighting helicopters.
In record time – less than two years – the PPF completed the procurement of the first three new aircraft for the early prevention of and effective response to natural disasters.
Antinero – National Reforestation Plan – Anti-erosion and flood protection works
Antinero is the largest organised intervention to protect critical forest ecosystems from the effects of the climate crisis and is recognized at European level. On behalf of the Ministry of Environment and Energy, the PPF prepared and ran tenders worth €450 million for clearing, opening and maintaining firebreaks and forest roads across approximately 000 hectares throughout Greece.
Under the National Reforestation Plan, contracts worth €50 million have been signed to restore degraded forest ecosystems, mainly with native species, in the Regions of Attica, Central Macedonia and Central Greece (North Evia), covering more than 000 hectares.
For anti-erosion and flood protection works, seven tender procedures have been completed, resulting in ten contracts worth a total of €53 million.
Athens Olympic Sports Complex (OAKA)
On behalf of OAKA and in cooperation with the Ministry for Sport, the PPF is carrying out the complete renovation of the country’s most important Olympic sports venue.
All work was tendered by July 2025. They include, among other things, the restoration of the steel structures at the Main Stadium and the Velodrome, as well as of OAKA’s grounds and main entrances.
The PPF has tendered works worth €90 million, out of a total budget of more than €130 million.
Restoration and upgrade works are well under way, while OAKA remains open.
In June 2026, this landmark venue will be handed back to the public and visitors fully safe and functional, regaining its rightful place as an international centre for culture and sport.
TIF redevelopment
By decision of the competent Government Committee, the PPF was tasked with preparing the tender for the redevelopment of the Thessaloniki International Fair (TIF) site.
Project details:
Public funding of €120,000,000
New exhibition buildings of ~41,500 sq.m.
Renovation of the Vellidio Convention Centre (~6,500 sq.m.)
Over 100 hectares to remain free of buildings, with green planting and open spaces for recreation and events
New underground parking
Support infrastructure (water, electrical and energy works)
Timeline:
The tender for the TIF redevelopment is expected to be launched in 2026.
The architectural designs are currently being updated.
Upgrading the Hellenic Police
The program covers a wide range of actions, including modernizing and upgrading the Hellenic Police’s information systems; procuring state-of-the-art technology (vehicles, special equipment, specialized software, UAVs/drones, etc.); and constructing and maintaining buildings. In total, it involves more than 60 supply and service contracts with a combined budget of over €600 million.
Within 12 months, the PPF has already prepared and tendered more than 60% of these contracts on behalf of the Ministry of Citizen Protection.
The project for new identity cards and passports has a budget of €400 million.
Restoring Greece’s railways
On behalf of the Ministry of Infrastructure and Transport and the Hellenic Railways Organization (OSE), the PPF is preparing projects for the structural upgrade of the rail network, with a total budget of €1.3 billion up to 2030.
On 4 December 2025, the first contracts of the program to modernize the Greek railway and ensure its safe operation were signed with the Ministry of Infrastructure and Transport, with a budget of more than €14 million. They concern the restoration and upgrade of the railway network around Domokos and are funded by a donation from the Hellenic Bank Association.
The PPF has already begun preparing the next projects prioritised by OSE.
Specifically, contracts have already been signed between the Ministry of Infrastructure and Transport, OSE and Growthfund for tendering the SKA–Oinoi and Mouries–Promachonas projects.
Equipment program for the Hellenic Coast Guard
The program being prepared by the PPF on behalf of the Ministry of Maritime Affairs and Insular Policy includes key procurements such as offshore patrol vessels, coastal and fast patrol boats, UAVs/drones and the modernization of the national VTMIS system, with a total budget of €400 million.
The first tender, for 2 offshore vessels over 80 metres long, will be launched in the coming weeks with a budget of €180 million.
Two further tenders will follow: for 6 coastal patrol vessels of 30 m, with a budget of €108 million, and for 10 fast patrol boats of 18 m, with a budget of €45 million.
Fyli Logistics Park
Estimated budget: over €200 million.
A flagship project for which the PPF swiftly completed all the necessary procedures on behalf of the Municipality of Fyli.
The preferred investor will build and operate a modern freight center covering 467 hectares for 40 years, with multiple benefits for society, the economy and the environment.
The tender is already at an advanced stage. The competitive dialogue for the development of the Municipality of Fyli’s property has been completed, and the invitation to submit binding offers is expected.
Relocation of Korydallos Prison
Estimated budget: over €600 million.
The tender is in Phase B, which consists of a competitive dialogue followed by the submission of binding offers. The competitive dialogue is ongoing.
The Environmental Impact Assessment (EIA) has been put to public consultation – a key prerequisite marking significant progress towards delivering the project.
A feasibility study is under way for the land to be freed up in Korydallos, which will be developed in line with the needs of the local community.
The project will reshape the country’s correctional policy and bring notable benefits for society and the economy.
“Andreas Lentakis” Government Park
The Government Committee appointed Growthfund’s PPF to run the tender and monitor the execution of the contracts for the project.
Estimated budget: €421 million.
The preferred investor will design, build, finance, operate and maintain the new administrative complex and urban park for 30 years.
The tender is in Phase B, which consists of a competitive dialogue followed by the submission of binding offers.
The invitation to submit binding offers is expected to be published in the first half of 2026.
The project framework is being updated to align with the Council of State’s ruling on the New Building Regulation (NOK).
The Environmental Impact Assessment (EIA) and the study for the Metro pedestrian tunnel are being prepared.
Upgrading the Athens Student Residence
Growthfund’s PPF completed the tender in record time – just five months – with INEDIVIM as contracting authority and the Ministry of Education, Religious Affairs and Sports as funding body.
The renovation of the Athens Student Residence complex, with a total floor area of 10,271.20 sq.m., is expected to radically improve both the building’s appearance and its functionality.
The contract, worth €18.6 million in total, was recently signed.
[1] The assets transferred to the former HRADF are off-balance-sheet items.
