An investment group announced last month that it plans to spend, in the medium term, up to 1 billion euros in Greece, Cyprus, Croatia and Turkey to develop organized tourism accommodation complexes, mainly for northern Europeans. In Greece its interest focuses on the Peloponnese, Central Greece and the Cyclades.
Several institutional investors participate in the investment group, Dolphin Capital Investors Ltd, including Goldman Sachs, Morgan Stanley, UBS, Merrill Lynch and Deutsche Bank, as well as the National Bank of Greece.
Managing the group is Dolphin Capital Partners, an independent investment management group founded in 2004 by entrepreneurs Miltos Kambouridis and Pierre Charalambidis. According to press reports, Mr. Kambouridis says the company has already conducted market research over the last couple of years in the regions it intends to invest in.
The group’s investment strategy will focus on developing holiday resorts to include organized housing units and recreation facilities. The resorts’ target market will mainly be people from Northern Europe who have either retired or are seeking a vacation home.