Greece’s Privatization Fund Announces Successful Sale of Thessaloniki’s Modiano Indoor Market

The sale of the landmark Modiano indoor market was announced by Greece’s privatization fund Hellenic Republic Asset Development Fund (HRADF) on Tuesday.

“HRADF expects another significant investment with today’s signature. Restoring and highlighting the building are major challenges for the investor, from whom we expect not only to respond to both, but also to make the next big step. The aim is not only to rescue the Modiano Market as a monument, but to revive the history of the city and the memories of its residents, as well as to create synergies within that particular neighborhood,” HRADF president Lila Tsitsogiannopoulou of the transaction.

Modiano market is located in the northern port city of Thessaloniki and according to HRADF’s reports, One Outlet S.A. purchased 43.63 percent of the property’s indivisible ownership while the winning offer reached as high as 1.9 million euros. One Outlet S.A. was the previous highest bidder for the famous structure which was originally built in 1925.