Green light for the inclusion of the “Digital Land Bank” in the Recovery Fund

A decision was signed by the Deputy Minister of National Economy and Finance, Mr. Nikos Papathanasis, by which the “Digital Land Bank” project is included in the Recovery Fund, through which the management and utilization of building factor transfer titles will be carried out exclusively in accordance with the new zoning and urban planning institutional framework (Law 4759/2020).

The object of the “Digital Land Bank”, according to the political decision of Mr. Nikos Papathanasis with a total budget of 18,274,230 euros (from the Recovery Fund), is the development and operation of an electronic platform – impersonal purchase and sale of building rights, which will it also functions as a compensation mechanism for beneficiaries, at no cost to the State, and at the same time will generate resources for environmentally friendly projects.

Building factor sellers and buyers will be able to register their requests electronically in the Digital Land Bank (DLB), through which the building factor transfer will be processed electronically.

The aim is to activate the outstanding titles, by defining the Rate Acceptance Zones and with the operation of the PSTG. It also aims to use the urban planning “tool” of transferring the building factor to real estate legalization.

The responsible ministry is the Ministry of Environment and Energy and the implementing body is the Technical Chamber of Greece (TEE).

The project is part of the Action “Smart environmental and cultural infrastructures”, the Axis “Modernization and improvement of the resilience of the main sectors of the country’s economy” and the Pillar “Private investments and transformation of the economy”.