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Massive Ios Tourism Project Gets Green Light

Ios Island

On the back-burner since 2014, a massive tourism project set to be erected on the Cycladic island of Ios by a Greek-American millionaire has received the go-ahead following a recent ministry decision, according to financial online daily Capital.gr.

Angelos Michalopoulos, a former Wall Street futures and options trader, can now move ahead with his ambitious plans to build a coastal resort in the Koumbara-Diakofto region of Ios through his company 105 Anonymous Tourist Company Real Estate Development.

According to reports, Mr Michalopoulos will be expected in less than a month’s time from the signature of the contract to hand over a total of 154,4 thousand euros for the first year exploitation of the seashore, beach and coastal area.  

As part of the deal, the investor will be expected among others, to construct an operational connection between Cape Diakofto and the mainland, breakwaters, artificial beaches in the Maniata and Koumbara bays, coastal platforms and a desalination unit. 

Ios

According to media reports, the Greek-American investor has since 2003 purchased over 30 percent of the island and has planted more than 60,000 trees across his properties.

The 18,000m2 tourism complex will include a 5-star hotel, tourist residences and a rejuvenation center with a total capacity of 249 beds. The project is set to cost approximately 50 million euros and estimated to be completed by the end of 2017.

A Cornell University graduate, Mr Michalopoulos has vacationed on the island of Ios with his family for over a decade and his since 2009 established his company 105 A.E.

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  1. Marijke Macken Reply

    Thi island grieves and I’m grieving too.Such a Shame !Mister Angelo’s has the power to let IOS shine with her natural beauty,Instead of that he destroys the island.Shame On you mister Angelos

  2. Marijke Macken Reply

    It’s very sas news for this beautiful island.Instead of followinc the soul of this island he’s destroying it.Shame On you mister Angelos.You have the wrong name.Instead of z’n angel you are a debil for this island.The island grieves in your name.Sad sad,and I hoeve with it.

  3. Richard Simonite Reply

    This is very sad news. He seem determined to impose his vision on the island without regard to anything or anyone other than his own large Igo. Sad. The Donald trump of Ios.

  4. pietro jovane Reply

    this and similar project should be stopped!
    pleas, get organized, make petitions and save the world!!

  5. Kostas Reply

    Angelos Michalopoulos is destroying Ios by transforming the island in to a place for his rich clients. He planted trees that have nothing to do in Ios. Palm trees do not belong to the Island. Closing road and not permitting the access to some of the best beach in Ios to anyone than his friend and clients is unacceptable and is forbidden in Greece. Is a real shame that you are adv. this guy and worst of all is unacceptable that Greek government do not stop him.

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