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.