||Public-Private Partnerships are not particularly new to Greece, as is the case for most European countries. In fact, in the previous decade three large-scale public works, as well as some smaller-scale ones, were constructed based on public-private partnerships. Contracts between the State and private individuals have been sanctioned by law in the Greek Parliament. The institutional framework that specifically defines PPP content, field of implementation, tendering and approval procedures, the means by which authorities fund works, as well as other related issues, has been covered by Greek law as recently as the end of 2005. The potentials and prospects for applying the new institutional framework are numerous and particularly far-reaching. The new law is expected, among other things, to help restrict the investment of state resources in public works, raise the quality of constructions, improve maintenance and operation procedures of public works, provide better services to citizens, mobilize privately-owned capital and boost regional development. Nonetheless, the expectations for the specific law may undermine its effectiveness, and its implementation may have negative repercussions in the very sectors in which the State seeks to increase the most improvement. The aim of this paper is to: * critically examine the new Greek institutional framework for Private-Public Partnerships; * evaluate PPPs projects carried out before the new law came into effect. // This paper includes a case study of the development of a 15-hectare, State-owned land plot, a project which included the construction of a golf course, tourist residences and hotel complexes. This study expects to: * draw conclusions concerning the functioning of public administration in Greece and the operation of construction and tourism sectors; * pinpoint the strong and weak points of the law in relation to the potential for achieving expected results.