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Greek Islet Fleves Up for Grabs, Two Expressions of Interest

Photo source: Municipality of Vari, Voula, Vouliagmeni

The Greek island of Fleves in the Saronic Gulf, off Vouliagmeni Bay, is going under the hammer with two investors expressing interest thus far.

Photo source: / Maria Hassapi-Sidera

Photo source: / Maria Hassapi-Sidera

Plans for the island, which is property of the Greek Defense Ministry, include the construction of extensive tourism facilities expected to support some 14,000 jobs throughout.

According to media reports, two investor bodies have expressed interest in Fleves: an Abu Dhabi-based entity with an investment of 1.5-2.5 billion euros  set for the construction of four luxurious resorts with a capacity of 450 rooms and 470 villas, a golf course, a water park and an underwater park, targeting high-income family tourism; and a Greek group with a budget of 700 million euros going towards the construction of four luxury hotels, villas, a conference center, a marina and a Cyclades-style village as well as a sailing club on the neighboring Flevopoula islet.

In order for any project move ahead, Greek parliament must first approve of the plans and abolish its current classification as a “navy fortress”.

Located just opposite the Astir Palace luxury resort, the island of Fleves is 1,4 km2 and is not populated.

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