Athens, 10 February 2026
An agreement for the development of properties owned by the Technical University of Crete was signed by Growthfund Deputy CEO, Panagiotis Stampoulidis, and the Rector of the Technical University of Crete, Michalis Zervakis, in the presence of the Minister of Education, Religious Affairs and Sports, Sofia Zacharaki.
The project, which will be tendered by Growthfund’s Project Preparation Facility (PPF), concerns the development of the Technical University of Crete’s unused property and comprises two interventions:
Α. New infrastructure complex next to the University Campus
This involves developing a complex of accommodation, a conference centre and other support facilities for students, researchers and visitors, on land owned by the Technical University of Crete right next to the University Campus.
Plans include student accommodation at low rents and on flexible terms, a conference center and a modern student center.
B. Development of a plot at “Kokkini Chalepa”
The second intervention concerns a plot owned by the Technical University of Crete at “Kokkini Chalepa”; its use will be decided once the preparation process is complete.
The project is part of a pilot program for the partial/supplementary self-financing of universities, with long-term benefits both for the institutions and the national economy. It also provides for modern, sustainable educational facilities, with an emphasis on energy efficiency, environmental protection, green spaces and the widest possible use of innovative solutions.
The Minister of Education, Religious Affairs and Sports, Sofia Zacharaki, said: “For the first time, an organized program is getting under way to develop the property of Greece’s public universities, starting with the Technical University of Crete. Today’s agreement is about our students’ day-to-day lives and the future of public higher education. Our aim is to give society tangible results: modern student halls, accommodation for students, visitors and researchers, a conference center and new spaces for student life. The project will be delivered through Public-Private Partnerships (PPPs) with Growthfund’s support, while the Ministry will take charge of preparing the related interventions, in line with the plan we recently presented to the Rectors’ Conference. Together with Growthfund and the university’s administration, we are delivering in Crete a model project that points the way to the university of tomorrow: open, modern, internationally competitive and closely connected to the needs of society. We are steadily continuing to invest in knowledge and in young people, our institutions’ most important asset”.
Growthfund Deputy CEO Panagiotis Stampoulidis said: “Developing the inactive property of public universities is a key tool for creating modern infrastructure for the benefit of students, the academic community and the local community. Growthfund’s Project Preparation Facility will deliver this project – one with clear development and environmental features – responsibly, consistently and effectively, with the ambition of setting a standard for how public property can be turned into long-term value for education and for the country”.
The Rector of the Technical University of Crete, Professor Michail Zervakis, said: “We are delighted to sign this cooperation agreement between the Technical University of Crete and Growthfund for the flagship project to develop the University’s properties. This project is crucial for making use of unused property, a direction vital to the future development of the Technical University of Crete. It was a priority for our rectorate, and we have finally managed to set it in motion, building on the plans of previous administrations. The aim is to provide housing for the University’s wider academic community while enabling us to support academic and research activity and student welfare with our own resources – including essential building maintenance, equipment purchases and repairs, and additional teaching and laboratory staff, all of which are ongoing needs of the institution. It will also open up opportunities to expand our international reach and partnerships with institutions and organizations abroad, creating new prospects for the wider Chania region. Finally, I would like to thank in particular Minister Sofia Zacharaki, who immediately recognized the project’s potential not only for the Technical University of Crete but for public universities in general, designating it a flagship national project for higher education and paving the way for a new model of financial sustainability for Greek universities”.