McBains Hellas appointed to advise on major new healthcare PPP project, as BRFAA and EBRD sign agreement on joint development of a new personalised medical research centre using PPP
The Biomedical Research Foundation of the Academy of Athens (BRFAA) and the European Bank for Reconstruction and Development (EBRD) signed in Athens on 9 July 2018 an agreement concerning the financing of a developmental Public/Private Partnership project for building a new BRFAA research centre that will provide personalised medical services and for renovating, in addition, the neighbouring “Loverdeion” building, in order to house a unit for clinical trials of novel and generic drugs.
The BRFAA is the biggest biomedical research centre in Greece and one of the first European centres undertaking translational research.
Located south of the ‘Sotiria’ hospital complex, the new and renovated facilities will cover 20,000 square metres and house state-of-the-art, high-tech laboratory infrastructures.
The European Bank for Reconstruction and Development (EBRD) will assume the responsibility to cover the costs of technical assistance in the organisation of the PPP and the costs of preparing tenders to attract private investors to design, build, finance and maintain the buildings.
Leading construction consultancy McBains Hellas has been appointed to act as technical advisors to this major new healthcare PPP project.
The total investment is estimated to be approximately €52 million, with the project set to be undertaken over a 3-year construction period and 24-year operating period.
McBains Hellas has been appointed as part of a consortium, led by Castalia - an international, economic advisory firm specialising in the governance and regulation of infrastructure services – who have an existing framework with EBRD. McBains Hellas will lead a team of local technical advisors, including FM, environmental and legal specialists.
Having steered Greece’s first ever PPP project to financial close during the country’s financial crisis, McBains Hellas has a detailed knowledge of the country’s needs and how the local market and economy operates, which is underpinned by our strong working relationships with key local stakeholders.
You might be interested in...

McBains advises APG Asset Management on acquisition of PPP portfolio
McBains has advised one of the world's largest pension investors APG Asset Management N.V (APG) on its recent successful acquisition of a UK PPP portfolio, having provided technical due diligence services in relation to the acquired assets.

Outlook for Property & Construction "Bouyant", Says New McBains Report
The medium-term prospects for the property and construction industry remain buoyant despite current market uncertainty, according to a new report published by McBains.

McBains Hosts University of Oxford Capital Projects Team for Cost Management Workshop
McBains was delighted to recently welcome members of the University of Oxford Capital Projects Team to our head office in Finsbury Square, London.

INSIDE HOUSING: How to meet the challenges of decarbonisation and economic viability in social housing
Irina Leigh shares her views with Inside Housing on how the cost of inaction in making social housing stock climate resilient is deterioration, disposal and fuel poverty.

CONSTRUCTION NEWS: Why we must improve wellbeing in the built environment
McBains has placed an opinion article in Construction News focusing on the importance of wellbeing within the built environment.

ENERGY MANAGER: How Energy Efficient Standards Are Transforming London's Commercial Buildings Into More Resilient And More Investable Assets
McBains has placed an opinion article in Energy Manager magazine focusing on energy performance as an increasingly influential driver of property value, with improvements in EPC ratings and green certifications boosting rental income and capital value.