- “The complaint concerns an alleged ‘scandalous collaboration’ between Prosperty, a real estate company, and the Hellenic Cadastre S.A.
- The European Public Prosecutor’s Office is investigating how access was granted to valuable and highly sensitive personal Cadastre data to a private entity.
- A few months after beginning its cooperation with the Hellenic Cadastre, Prosperty announced deals with the non-performing loan management company DoValue and Eurobank.
- The Rise of Prosperty: Founded in 2020 with 500,000 euros in share capital, Prosperty was managing roughly 3,000 properties worth more than 400 million euros by 2024.
By Vangelis Triantis
A complaint submitted to the European Public Prosecutor’s Office raises serious questions about the data on millions of citizens held by the company Hellenic Cadastre S.A.
As revealed by Data Journalists, a written complaint was sent to the Office regarding the collaboration between the real estate company Prosperty and Hellenic Cadastre. The collaboration began in November 2024 and involved creating a platform to consolidate real estate transactions. However, the complaint describes this collaboration as “scandalous” because access to valuable and highly sensitive personal Cadastre data was allegedly granted to a private entity.
The same complaint raises issues of “unfair competition.” Prosperty announced a partnership with the non-performing loan management company DoValue and later with Eurobank, just a few months after beginning its cooperation with Hellenic Cadastre S.A. In November 2025, the latter acquired 25% of a Cypriot company that is Prosperty’s sole partner and founder.
All of the above raise numerous questions, which are outlined in the complaint submitted to the European Public Prosecutor’s Office. For many years, banks, funds, and servicers have sought access to the Cadastre’s data, but the state has consistently refused. In 2024, for example, banks and debt-management funds sent a letter requesting direct access to the Cadastre’s database in order to obtain a complete picture of debtors’ assets. However, the government rejected the request through the then-Deputy Minister of Digital Governance, Konstantinos Kyranakis.
The founding of Prosperty and its rapid rise
Prosperty Single-Member Private Capital Company was established in February 2020.
It is a company operating in the Real Estate sector. According to the official documents filed with the General Commercial Registry (GEMI), its activities include, among others, ‘the design, maintenance, development, management, and operation of an online platform, primarily for posting data related to real estate intended, for example, for sale, lease, or generally for any type of property management or utilization, along with related services’; ‘the provision of real estate brokerage services, including identifying opportunities and mediating contracts related to real estate, such as sales, exchange, lease, financial leasing, establishment of servitudes or property-for-service agreements, management and utilization of properties by any means, brokerage under the Civil Code, representation of domestic and foreign real estate companies’; and ‘the provision of consulting services in the field of real estate and real estate brokerage operations in general,’ among others. The company’s share capital amounts to 500,000 euros, and its sole partner and founder is ‘Prosperty R.E. LTD,’ a Cypriot company based in Nicosia that was established in December 2019.
Antonis Markopoulos appeared as the legal representative and manager of Greek Prosperty. The same person is listed as a director of Cypriot Prosperty R.E. LTD. When Greek Prosperty was founded, Mr. Markopoulos worked at the Hellenic Development Bank as a member of its Board of Directors. He was later appointed Vice President. According to his CV, his collaboration with the Hellenic Development Bank ended in May 2024.
Stelios Sakaretsios later became chairman of Hellenic Cadastre S.A. and is currently Secretary General of Transport. He previously worked at the Hellenic Development Bank as Head of Digital Operations.
Prosperty began to grow rapidly. According to reports, Prosperty managed approximately 3,000 properties worth over 400 million euros in 2024, preparing them for “commercial exploitation.”
Collaboration with Hellenic Cadastre S.A. for platform development
In November of that year, Prosperty announced its collaboration with Hellenic Cadastre S.A. to create a platform for consolidating real estate transactions from the Hellenic Cadastre and generating marketability reports. Prosperty signed a contract with the National Documentation and Electronic Content Center (EKT) for 36,592 euros.
According to the announcement posted on Prosperty’s website, the collaboration will develop an innovative platform that provides reliable and critical information and analyses for the Greek real estate market, further enhancing the sector’s digital transformation. More specifically, the announcement explains that through the platform, property transaction data will be collected, anonymized, analyzed, and made available. The new platform will provide detailed information on areas and property types, historical data, commercial trends, etc.
The Hellenic Cadastre is a state-owned company that contains a vast array of cadastral and geospatial data, including plot boundaries, agricultural parcels, and building outlines. It also holds legal data, including ownership information and pre-notations. Simply put, the Cadastre contains precise information about a plot’s owner, property type, location, and financial encumbrances, such as mortgages, pre-notations, purchase and sale prices, and past and current owners.
“Scandalous collaboration” and “unfair” competition
The complaint submitted to the European Public Prosecutor’s Office describes this collaboration as “scandalous.” Regarding the Prosperity–Cadastre collaboration, the complaint states that “a major issue arises regarding unfair competition, since all funds and servicers have sought access to the Cadastre’s data for years, but the State and the law did not grant them such access.”
The complaint emphasizes that, through this collaboration, access to the Cadastre’s valuable and highly sensitive personal data was granted to a private entity without a tender, without a public announcement, and under the guise of legality.
“Their relationships, the assignment process, and especially whether the necessary measures have been taken to safeguard citizens’ personal data should be investigated, given that cadastral data is of enormous value,” the statement emphasizes.
According to Data Journalists, the European Public Prosecutor’s Office is investigating this complaint to determine if issues have arisen and the extent to which EU funds may have been allocated in violation of EU legislation. In fact, according to well-informed sources, individuals from the real estate market who are familiar with the property sector have reportedly already been examined as witnesses.
The subsequent collaboration with DoValue
In June 2024, Prosperty announced its partnership with DoValue Greece, a company that specializes in managing loan and credit claims (non-performing loans). DoValue Greece was established in 2020 when the Italian company acquired 80% of Eurobank Financial Planning Services (FPS), a Eurobank subsidiary. DoValue essentially manages Eurobank’s non-performing loans while retaining a 20% stake in the company.
Prosperty and DoValue carried out their collaboration through Altamira Properties, a real estate platform operated by DoValue in Greece since 2020.
At the time, Mr. Markopoulos told financialreport.gr that the collaboration “concerns providing a complete suite of technological tools offered by the Prosperty platform for properties sold at auction and DoValue’s REO (real estate owned) assets.”
Mr. Markopoulos explained that “essentially, it is a mechanism that enables Altamira Properties to present properties for disposal in a structured manner, receive and manage interest in the properties, oversee a wide network of brokers across the country, digitally monitor property listings, and manage offers on the properties effectively and transparently.”
The acquisition of 25% of the Cypriot Prosperty by Eurobank
A few months later, on April 14, 2025, another collaboration followed. This time, Eurobank acquired 25% of Prosperty RE Ltd., the Cypriot company that is Prosperty’s partner in Greece, according to documents filed with GEMI.
Prosperty announced that the goal of the collaboration was “the joint development and offering of innovative products and services in the real estate market, leveraging global trends and the convergence of the FinTech and PropTech sectors.”
Specifically, under this agreement, Eurobank was set to “immediately promote 800 of its owned properties through the Prosperty platform (theprosperty.com), leveraging its strong network of collaborating brokers, digital infrastructure, data, targeted real estate marketing, and the full range of real estate brokerage services offered by Prosperty,” according to the announcement. The collaboration aimed to increase the number of properties to at least 2,000 by the end of the year to enhance the sale of properties with speed, transparency, and maximum efficiency.
The same announcement stated that Prosperty’s B2C platforms attract over 800,000 monthly visitors and host more than 12,000 active property listings. These platforms offer one of the most comprehensive and powerful solutions for the physical and digital promotion and sale of properties in the Greek market.
Kyranakis’s “No” to Banks and Servicers
Prosperty’s collaboration with the Cadastre, and later with DoValue and Eurobank, raises many questions. Banks and servicers have long sought to gain access to the Cadastre’s data but have been unsuccessful thus far. In 2024, for example, banks and debt-management funds sent a letter requesting direct access to the Cadastre’s database to obtain a comprehensive view of debtors’ assets. However, the government rejected the request outright. In his response, the then-Deputy Minister of Digital Governance, Konstantinos Kyranakis, expressed his “explicit opposition” to the banks’ request.
Specifically, the current Minister of Transport stated in his response:
“In response to your letter, we explicitly oppose granting credit institutions and debt-management companies access to the online application of the Hellenic Cadastre for the following reasons:
According to Joint Ministerial Decision No. 11206 EX 2021, any natural or legal person registered in the cadastral books as the holder of a registrable right has the right to access the cadastral records concerning them. These records are contained in the descriptive and spatial database of the National Cadastre.”
Article 2 of the relevant Joint Ministerial Decision defines those who have the right to access and search cadastral data. This includes lawyers, who have this right exclusively for the purpose of carrying out their professional activities. Access is also granted to other individuals, such as judicial officers, notaries, engineers, and Forestry Service personnel, but only for the purpose of performing their professional duties.
Given the sensitive nature of cadastral data, it is clear that the legislator has long been concerned that access to this data be granted with due care and restraint, carefully balancing the necessity of access with the role of each public function to which access is granted.
Therefore, it is clear that credit institutions and debt management companies should not be granted access to cadastral data, as the aforementioned conditions are not met.
Under the current legal framework, no such right exists except in cases of demonstrated legitimate interest through the assignment of relevant mandates to lawyers within the scope of their professional activity. In any case, this right does not extend directly to credit institutions or management companies.
Maintaining the current framework is deemed appropriate and necessary for several reasons, including the principle of equality of arms in disputes between credit institutions and debt management companies, and natural or legal persons. This is particularly important given the need to protect citizens’ data and rights.
Consequently, the current legal framework is considered sufficient, and there is no reason to grant credit institutions and debt-management companies access to the Hellenic Cadastre database.
The complaint to the European Public Prosecutor’s Office therefore, reasonably asks to what extent Eurobank and DoValue may have obtained access to Cadastre data through Prosperty.
