Million-euro Tourism Investment Projects in Greece Get Green Light

Mykonos, Greece

An inter-ministerial committee for strategic investments led by Greek Economy Minister Yannis Dragasakis approved this week three tourism projects and a shopping/recreation center budgeted at 333.8 million euros.

The Inter-ministerial Committee for Strategic Investments known as DESE  will convene again next month in order to examine additional plans that have been submitted to state-run investment agency Enterprise Greece for approval.

Plans moving to the next level are:

• The Mykonos Project: budgeted at 50.85 million euros, it includes two hotel units, a recreational boat shelter, and sports facilities, among others, set to create at least 200 seasonal and permanent jobs to be run by of AGC Equity Partners.
• Cape Tholos Luxury Resort: budgeted at 149.6 million euros, the project includes a holiday home village, a tourism complex and two hotels, expected to create some 216 full-time and seasonal jobs to be run by Tourist Enterprises Association – TEAB SA under the Maris Hotels SA brand name.
• Panita LTD: budgeted at 93,422,600 euros, the plan includes the development of a shopping and recreation center in Metamorfosi, Attica, slated to open up 722 new jobs.
• Monolithos Marina Santorini: budgeted at 40 million euros, the first public investment plan that involves the creation of a 350-berth marina, set to create 120 direct seasonal jobs to be run by the Municipal Port Fund of Thera.

Beach at Monolithos, Santorini. Photo: © Allard One / Shutterstock

It should be noted that the last time a strategic investment was included in the government’s fast track licensing procedure was in 2017.